Register
If a man has $1,500 in the bank and the annual interest rate is 5%, how much money will he have in the bank after 1 year?
110k views
1 vote
If a man has $1,500 in the bank and the annual interest rate is 5%, how much money will he have in the bank after 1 year?

User Flyingace
by
7.9k points

1 Answer

3 votes
I=PRT
interest=I
P=principal
R=rate in decimal
t=time in years



P=1500
T=1
R=5%=0.05


I=1500 times 0.05 times 1
I=75

interst is 75
total amount is 1500+75=$1575 total
User Elvy
by
8.0k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!