Alex has $50,000 to invest in a simple interest account that earns 6.5% annual interest. If Alex wants to withdraw the money after 15 years, how much would she be able to withdraw?

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Mtflud asked May 12, 2022

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Alex has $50,000 to invest in a simple interest account that earns 6.5% annual interest. If Alex wants to withdraw the money after 15 years, how much would she be able to withdraw?

Mathematics
high-school

Mtflud asked May 12, 2022

by Mtflud

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27 votes

Answer:

$98,750

Explanation:

6.5% = 0.065

50,000 x 0.065 = 3250.

3250 x 15 = 48,750

50,000 + 48,750 = $98,750

Spex answered May 17, 2022

by Spex

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