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Titus deposited $1,508.49 in a savings account that earns 4.2% simple interest. What will titus account blanace be in 8 months?
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Titus deposited $1,508.49 in a savings account that earns 4.2% simple interest. What will titus account blanace be in 8 months?

User Arif Dewi
by
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1 Answer

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The formula is
A=p (1+rt)
A future value?
P principle 1508.49
R interest rate 0.042
T time 8/12
A=1,508.49×(1+0.042×(8÷12))
A=1,550.73
User Faridun
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