Register

When Marty was born, his parents deposited $5000 in a college savings account that earns simple interest at a rate of 7.25% per year. How much interest will the money have earne…

When Marty was born, his parents deposited $5000 in a college savings account that earns simple interest at a rate of 7.25% per year. How much interest will the money have earne…
106k views
5 votes
When Marty was born, his parents deposited $5000 in a college savings account that earns simple interest at a rate of 7.25% per year. How much interest will the money have earned after 18 years?

User Luizfzs
by
8.0k points

1 Answer

5 votes
I=prt=5000*7.25%*18=6,525
User VKK
by
8.5k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!