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Suppose $1,000 is put into an account that pays simple interest at a rate of 3.5% annually. What is the value of til the money is deposited for 2 1/2 years?
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4 votes
Suppose $1,000 is put into an account that pays simple interest at a rate of 3.5% annually. What is the value of til the

money is deposited for 2 1/2 years?

User DrTeeth
by
5.2k points

2 Answers

5 votes
If you use the equation I = PRT you would get $1087.50
User Shanmugharaj
by
4.7k points
4 votes

Answer:

2.5

Explanation:

User JDeuker
by
4.9k points
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