212k views
4 votes
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?

User TheRealTy
by
7.6k points

1 Answer

4 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

User Davide Consonni
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