Answer:
By 2 years, you will have a total of $48.00 in your savings account, assuming you don't withdraw the money from the bank.
Step-by-step explanation:
Formula:
Simple Interest = Interest Rate x Principal Balance
8 = 0.20 x 40
Add principal balance and simple interest and you get $48.
*I multiplied 0.20 because you wanted two years' worth of interest.
