Amy earns 2 percent annual interest on her $5,000 deposit. how much will she earn after 4 years?

Amy earns 2% interest for here 5 000 dollars deposit. Meaning she will be receiving 2% every years. Now, in 4 years. How much will she receive? Solutions: 1st year = 5 000 * .02 = 100 => 5000 + 100 = 5100 2nd year = 5100 * .02 = 102 => 5100 + 102 = 5202 3rd year = 5202 * 0.02 = 104.04 => 5202 + 104.04 = 5306.04 4th year = 5306.04 * .02 = 106.1208 => 5306.04 + 106.1208 = 5412.1608 or approximately 5412.16

They never sand how many percent she got in 1 year so 8 in 4 years if its 2 percent per year