Answer:
$2597.50
Explanation:
To calculate the amount of money Cameron has in his savings account now, we can use the formula for simple interest:
Interest = Principal * Rate * Time
Given that Cameron put $2500 in the savings account and the interest rate is 1.3%, we need to determine the time period. Since it is mentioned that it has been 3 years, we can substitute these values into the formula:
Interest = $2500 * 1.3% * 3 years
Calculating the interest:
Interest = $2500 * 0.013 * 3 = $97.50
To find the total amount in his savings account, we add the interest to the principal:
Total amount = Principal + Interest = $2500 + $97.50 = $2597.50
Therefore, Cameron has $2597.50 in his savings account now.