Question

​Anthony has $60,000 in a savings account that earns
7%
interest per year. The interest is not compounded. How much will he have in 8 months?

Answer 1

he should have gained 2800 so the answer should be $62800

Answer 2

If it's not compound interest then, the answer can be found using the following sum
60 000 X 0.07 X 8/12= 3150

Therefore interest earnt after 8 monts= 2772
 Sum Total earnt after 8 months= 62 772