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Wath is the process of the question that say: You have $550 in a savings account that earns 3% simple interest each year . how much will be in your account in 10 years?

Wath is the process of the question that say: You have $550 in a savings account that earns 3% simple interest each year . how much will be in your account in 10 years?
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Wath is the process of the question that say:

You have $550 in a savings account that earns 3% simple interest each year . how much will be in your account in 10 years?

User Rwsimmo
by
7.7k points

1 Answer

4 votes
Hi there

The formula is
A=p (1+rt)
A=550×(1+0.03×10)
A=715

Hope it helps
User Alex Dalyac
by
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