Scenario: Suppose you deposit $520 in a bank for a period of 1 year. The interest rate offered by the bank is 10 percent per year.
-Refer to the scenario above.The total value in your account at the end of a year is equal to ________.

Question

Quizplus · Accepted Answer

The total value in your account at the end of a year is calculated by adding the interest earned to the initial deposit. The interest earned on $520 at a rate of 10% per year is $52 (10% of $520). Therefore, the total value after one year is $520 + $52 = $572.

Scenario: Suppose You Deposit $520 in a Bank for a Period