Question

John’s parents deposited $1000 into a savings account as a college fund when he was born. How much will John have in this account after 18 years at a yearly simple interest rate of 3.25%?

Answer 1

15850

Explanation:

is johns account has 10000 dollars then each year he'll be making at 3.25% interest that's a total of $325 each year therefore in 18 years he'll have made 325 X the 18 years which you turn hall to 5850 as interest but now the question is it askijg how much will John have in his account after 18 years at the yearly simple interest of the 3.25 there for the total will be 15850 dollars