You have deposited $400 in a simple interest savings account which place 3% interest annually. Find the amount of interest for 0, 5, 10, 15, and 20 years. Add the interest to $400 and fill in the table

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Tags
Categories
Ask a Question

JamesENL asked Mar 19, 2023

357,351 views

21 votes

You have deposited $400 in a simple interest savings account which place 3% interest annually.

Find the amount of interest for 0, 5, 10, 15, and 20 years.

Add the interest to $400 and fill in the table round the amounts to the nearest dollar.

Mathematics
high-school

JamesENL asked Mar 19, 2023

by JamesENL

2.8k 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

25 votes

Answer:

0 years: $0

5 years: $460

10 years: $520

15 years: $580

20 years: $640

Explanation:

Bijaykumarpun answered Mar 24, 2023

by Bijaykumarpun

2.9k 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