Question

Dominique deposited $3,000 into an account earning simple interest. The interest rate is 2.6%. How much interest will Dominique earn in 5 years? How much money will be in the account after 5 years? (assuming no new deposits SHOW THE WORK PLEASE​

Answer 1

$390

Explanation:

Way 1:

$3,000 x 2.6 % = $78

$78 x 5 = $390

Way 2:

$3,000 x (2.6x5) =

$3000 x 13% =

$390

Hope that helps!