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Martha placed $2,500 in a college savings account with a simple interest rate of 5% when when Ryan was born. How much will be in the account in 18 years when her son is ready to go to college?
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Martha placed $2,500 in a college savings account with a simple interest rate of 5% when when Ryan was born. How much will be in the account in 18 years when her son is ready to go to college?

User Niall Sheridan
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2 Answers

5 votes
The answer would be 4750
User ReachmeDroid
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7.0k points
2 votes
$2500.(1+5/100)^18
=Whatever number you get that's the answer.
User Paul Blundell
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7.1k points
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