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Toby deposited $2,103.24 in a savings account that earns 5.1% simple interest. What will Toby’s account balance be in 10 months?
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Toby deposited $2,103.24 in a savings account that earns 5.1% simple interest. What will Toby’s account balance be in 10 months?

User Pradeep Sanjaya
by
8.3k points

1 Answer

6 votes
interest in a month
2103.24 * (5.1/100) / 12
8.938

interest in 10 months
8.938 * 10
89.388

Final account balance
2103.24 + 89.388
2192.628
User Wforl
by
8.4k points
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