You are starting a savings account for college. You put $1,000 in as your starting balance. You earn simple interest at 10% ever
y year. You also must pay 30% income tax on the interest earned annually. Calculate the interest, balance, tax paid, and the overall balance of the account after taxes.
— Use NerdWallet to find a better bank account. ... Compound interest is simple: It's the interest you earn on both your original deposit and on the ...
