Question

You deposit 650$ in an account paying an annual simple interest rate of 7.2% find the future value of the investment

Answer 1

solution\

`\begin{gathered} P=650\text{ } \\ r=7.2\% \end{gathered}`

The future value is;

`\begin{gathered} FV=650+(650(7.2)t)/(100) \\ FV=650+46.8t \end{gathered}`

Where t is the number of years.