Question

Carolyn makes a deposit of 2800 into a savings account. The bank calculate simple interest annually, at a rate of 7.5%.

Answer 1

Explanation:

Let's take out our given data :

P = 2800

i = 7.5% = 7.5/100

n = 1 (annually)

A=?

A = P ( 1 + in)

A = 2800[1 +(7.5/100)(1)]

A = R3010, 00