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10. Gerry deposited $1,230 in an account that pays 2.19% simple interest for one year.
a. How much interest will he eam in one year?
b. What will his balance be after one year?
c. Gerry withdraws all of the principal and interest after the first year and deposits it i
another one-year account at the same rate. What will his interest be for the second
d. What will his balance be after two years?
e. Compare the accounts of Gerry and Colin from Exercise 9. Who earned more intere
second year, Gerry or Colin? Explain.
11. Use the simple interest formula to find the missing entries in the following table. Rounc
monetary amounts to the nearest cent, percents to the nearest hundredth of a percent.
