Question

Lucy has 25600 in savings account that earns 2% interest per year the interest is not compounded how much would you have in 3 months

Answer 1

25728

Explanation:

Amount i would have in 3 months = simple interest + amount deposited

Simple interest = principal x time x interest rate

Principal = 25600

Interest rate = 2%

Time = 3/ 12 = 0.25

25,600 x 0.02 x 0.25 = 128

Total amount = 25,600 + 128 = 25728