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3 votes
Rafael deposits $5000 into and account that pays simple interest at an annual 5%. He does not make anymore deposits. He makes no withdrawals until the end of 6 years when he withdraws all the money.

Answer the following questions.
A)How much total interest will Rafael earn?

B)What will the total amount in the account be(including interest)?

User Liam Fell
by
4.5k points

2 Answers

2 votes

Answer:

Explanation:

sorry idk

User Giammin
by
4.2k points
5 votes

Answer:

$6500

Explanation:

1.05 is Simple Interest of 5%

5000 times 1.05 equals 5250

5250 minus 5000 equals 250

250 times the 6 years is 1500

1500 plus 5000 is 6500

User Pierre Lapointe
by
4.0k points