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Calculate the simple interest you would receive in five years on a savings account that earns 7.5% annual interest. your beginning balance is $1236.59.
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Calculate the simple interest you would receive in five years on a savings account that earns 7.5% annual interest. your beginning balance is $1236.59.
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Jul 25, 2019
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Calculate the simple interest you would receive in five years on a savings account that earns 7.5% annual interest. your beginning balance is $1236.59.
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Danishgoel
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we know,
simple interest = (capital×time in years×interest rate)/100
therefore,
simple interest = (1236.59×5×7.5)/100
= 46372.125/100
=463.72
Thus, simple interest = $463.72
DinGODzilla
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Jul 26, 2019
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DinGODzilla
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$4,637.21 in 5 years of simple interest.
Bert Smith
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Jul 29, 2019
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Bert Smith
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