Question

2.Your grandfather placed $5,000 in a trust fund for you. In 12 years what will be the worth of the savings. If the estimated rate of return on the trust fund is 8%?

Answer 1

Step-by-step explanation

Given:

Principa = $5,000

term (in years) = 12 years

rate (r) = 8%

Desired Result:

Worth of the savings in 12 years (Simple Interest)

Determine the worth of the savings in 12 years using Simple Interest Formula