Question

Suppose your dog posit $250 in a new savings account paying a Yield of 3% interest if the count is left alone how much money will be in a tote Athena five years

Answer 1

The amount after a time period of 5 years is $287.5.

Explanation:

Principal Amount deposited = $250

Time = 5 Years

Rate of interest = 3%

Now, SIMPLE INTEREST =
`(P * R * T)/(100)`

⇒
`SI = (250  * 3  * 5)/(100)   = 37.5`

or, the interest amount after 5 years = $37.5

Now, AMOUNT = PRINCIPAL + INTEREST

= $250 + $37.5 = $287.5

Hence the amount after a time period of 5 years is $287.5.