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Pete opens a simple interest savings account that earns 5% annual interest with an initial deposit 3500. If he doesn't touch the account for 18 months, how much interest will he earn
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4 votes
Pete opens a simple interest savings account that earns 5% annual interest with an initial deposit 3500. If he doesn't touch the account for 18 months, how much interest will he earn

User Jwpol
by
6.1k points

2 Answers

3 votes

Answer:

Explanation:

Answer:

$262.5

Step-by-step explanation:

3500 x 0.05 x (18/12) = 262.5

User Arshaw
by
6.7k points
5 votes

Answer:

$262.5

Explanation:

3500 x 0.05 x (18/12) = 262.5

User Bigbug
by
5.7k points
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