Question

A principal of $4900 is invested at 3.5% interest, compounded annually. How much will the investment be worth after 15 years?

Answer 1

$2572.50

Explanation:

This is because the formula for simple interest is p x r x t.

You would do 4,900 x 3.5% x 15, which equals 2572.5.

That would give you the simple interest of the investment.

Answer 2

25725

Explanation:

Well, I decided to multiply 4900 by .35 because we turn 3.5% into .35, then I got 1715. I got 1715 and multiplied it with 15, with a result of 25725.

I hope I helped and sorry if I'm wrong. :)