Jon invests $4,100 into an account that pays 5 percent simple interest each year.what is the total balance in the account after 3 years?

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asked Feb 1, 2019 47.7k views

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Intekhab Khan · Answer 1 · 2019-02-07T04:12:08+0000

% Interest = 5%
Principal Amount = $4100
Period Of Pay = 3 yrs

Interest Amount
5/100 × 4100 × 3
=615

Amount After Interest
4100 + 615 = 4715

Answer = 4715

Jon invests $4,100 into an account that pays 5 percent simple interest each year.what is the total balance in the account after 3 years?

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