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Meredith invests $18,200 in an account that earns 3.25% simple interest. What will the balance in Meredith's account be after 15 years?
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1 vote
Meredith invests $18,200 in an account that earns

3.25% simple interest. What will the balance in
Meredith's account be after 15 years?

User Catherine Nyo
by
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1 Answer

6 votes
Take 15 divided by 3.25% then multiply the total by the number of months in one year then multiply by 15 years and add that to 18,200 which gives you 19,030.77 (rounded)
User Eraserhd
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