Question

Mitchell deposits $2,500 in an account that pays 1.2% simple interest. he keeps the money in the account for 3 years without any deposits or withdraws. how much is in the account after 3 years?

Answer 1

=2800

Explanation:

Total=2500×1.2^(3)

=4320

Total=2500×1.2÷100×10

=300

=2500+300

=2800