Sheila opens a saving account with $80 that earns 1% interest per year, not compounded.

Question

Sheila opens a saving account with $80 that earns 1% interest per year, not compounded.

How much interest, to the nearest penny, will Sheila earn in 2 years? Give your answer in dollars.

I thought the answer was $81.60, but apparently it isn't correct.

Answer 1

Sheila opens a saving account with $80 that earns 1% interest per year, not compounded.

you did not read the question carefully. They did not ask for the account balance, but only the interest.