97.9k views
4 votes
If I invest 15,000 at 10% simple interest for one year how much is in the account at the end of the first year

1 Answer

7 votes

Given

The invesment is 15000 at 10% simple interest for 1 year.

To find:

The amount in the account at the end of the first year.

Step-by-step explanation:

It is given that,

The invesment is 15000 at 10% simple interest for 1 year.

That implies,

The amount in the account at the end of the first year is,


\begin{gathered} A=P+SI \\ A=15000+(15000*1*10)/(100) \\ A=15000+1500 \\ A=16500 \end{gathered}

Hence, the amount in the account at the end of the first year is, $16500.

User IBRAHIM EZZAT
by
8.0k points

No related questions found

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

9.4m questions

12.2m answers

Categories