You deposit $4,400 into a bank account with an annual simple interest rate of 2.1%. a. How much interest does the account earn in 15 months? b. What is the balance of the account after 15 months?

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Tags
Categories
Ask a Question

Ojdo asked Dec 19, 2022

406,422 views

25 votes

You deposit $4,400 into a bank account with an annual simple interest rate of 2.1%. a. How much interest does the account earn in 15 months? b. What is the balance of the account after 15 months?

Mathematics
college

Ojdo asked Dec 19, 2022

by Ojdo

3.1k 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.

1 Answer

22 votes

Hi I don't know how to explain this in steps but the interest is 15523,2

The balance is 1108,8

Harinarayanan K S answered Dec 24, 2022

by Harinarayanan K S

3.1k 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

1 Answer

0 Comments

Your comment on this answer:

Other Questions