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YOU PUT 1205 IN AN ACCOUNT THAT EARNS 2.5% SIMPLE INTEREST. FIND THE TOTAL AMOUNT IN THE ACCOUNT AFTER 4 YEARS

YOU PUT 1205 IN AN ACCOUNT THAT EARNS 2.5% SIMPLE INTEREST. FIND THE TOTAL AMOUNT IN THE ACCOUNT AFTER 4 YEARS
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YOU PUT 1205 IN AN ACCOUNT THAT EARNS 2.5% SIMPLE INTEREST. FIND THE TOTAL AMOUNT IN THE ACCOUNT AFTER 4 YEARS

User TWilly
by
8.1k points

1 Answer

3 votes

Answer: 1325.50

Work Shown:

A = P*(1+r*t)

A = 1205*(1+0.025*4)

A = 1325.50

User Kim Montano
by
8.1k points
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