2. Gary deposits $3,700 in an account that pays 2.15% simple interest. He keeps the money in the account for three years, but doesn't make any deposits or withdrawals. How much interest will he receive

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Tags
Categories
Ask a Question

Vladimir Fokow asked May 14, 2022

212,507 views

19 votes

Mathematics
high-school

Vladimir Fokow asked May 14, 2022

by Vladimir Fokow

2.8k points

0 Comments

Your comment on this question:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Your answer

Email me at this address if my answer is selected or commented on:Email me if my answer is selected or commented on

Privacy: Your email address will only be used for sending these notifications.

2 Answers

23 votes

Answer:

70000.036 = 1260

Explanation:

Oliver Salzburg answered May 15, 2022

by Oliver Salzburg

3.0k points

0 Comments

Your comment on this answer:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

10 votes

Answer:

He will receive $238.65 after three years

Explanation:

3700(1+0.0215 * 3) = 3,938.65

3,938.65 - 3700 = $238.65

Patrick Browne answered May 19, 2022

by Patrick Browne

3.5k points

0 Comments

Your comment on this answer:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers

0 Comments

Your comment on this question:

Your answer

2 Answers

0 Comments

Your comment on this answer:

0 Comments

Your comment on this answer:

Other Questions