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A basic savings account pays interest once per year on December 31. If Alan deposits $300 into the account on January 1, 2004, and does not deposit or withdraw any money in the meantime, then to the nearest cent, how much was in the account when he withdrew the money on January 1, 2009?
(1) The savings account interest rate is 2% per year
(2) If Alan had left the money in the account for 2 more years, he would have had, to the nearest cent, $13.12 more.
[spoiler]OA=D[/spoiler]
Source: Princeton Review
(1) The savings account interest rate is 2% per year
(2) If Alan had left the money in the account for 2 more years, he would have had, to the nearest cent, $13.12 more.
[spoiler]OA=D[/spoiler]
Source: Princeton Review
