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You deposit $500 into an account that earns 4.5% simple annual intrest. What is the balance of the account after 14 years?​

You deposit $500 into an account that earns 4.5% simple annual intrest. What is the balance of the account after 14 years?​
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1 vote
You deposit $500 into an account that earns 4.5% simple annual intrest. What is the balance of the account after 14 years?​

User Skaal
by
9.1k points

1 Answer

3 votes
$815

14(500*0.045) + 500
= 14(22.5) + 500
= 315 + 500
= 815
User Peter Duijnstee
by
8.0k points
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