Po Amelia deposited $2500 in an account that earns 3% simple annual interest. What will her account balance be after 6 years?

Question

asked Nov 20, 2022 36.2k views

1 Answer

Maduro · Answer 1 · 2022-11-24T15:19:24+0000

Answer:

$2,950

Explanation:

Interest earned (I) = Principal x Interest rate x Time

Total Amount (A) = Interest Earned + Principal

I = 2500(.03)(6)

I = 450

A = 450 + 2500

A = 2950