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Joan’s parents deposited $2,000 into a savings account as a college fund when she was born. How much will Joan have in total in this account after 18 years at a yearly simple interest rate of 3.25%?
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Joan’s parents deposited $2,000 into a savings account as a college fund when she was born. How much will Joan have in total in this account after 18 years at a yearly simple interest rate of 3.25%?

User Sdcbr
by
7.2k points

1 Answer

1 vote

Answer:

1170.

Explanation:

.0325 x 18 = 0.585

0.585 x 2000 = 1170.

User Umapathy
by
8.5k points
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