Question

Kunio puts $3,300.00 into his savings bonds that pay a simple interest rate of 2.5%. How much money will the bonds be worth at the end of 5 years?

Answer 1

3,712.50

Explanation:

2.5% divided by 100 = .025 which is the percent in decimal form.

Use the Equation Principal = (Amount Invested * Rate * Time)

3,300.00 * 0.025 * 5 = 412.50 earned

3,300 + 412.50 = 3,712.50 total