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mr thompson plans to invest $7,500 in a savings account that earns 2.75% simple nnual interest. If he makes no other deposits or withdrawals, how much money will his account be worth after 10 years?
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mr thompson plans to invest $7,500 in a savings account that earns 2.75% simple nnual interest. If he makes no other deposits or withdrawals, how much money will his account be worth after 10 years?

User Mandar Chitre
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1 Answer

1 vote
y=7,500(1+0.0275)^x
y=7,500(1.0275)^10
y=9,837.38
User Jay Mitchell
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