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Mak deposited $493.12 in a savings account that earns 3.2% simple interest. What is Mak's account balance after 13 years?
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Mak deposited $493.12 in a savings account that earns 3.2% simple interest. What is Mak's account balance after 13 years?

User Brian McKelvey
by
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1 Answer

5 votes

Answer:

$698.26

Explanation:

  • Deposit = $493.12
  • Interest rate = 3.2% simple
  • Time = 13 years

Balance after 13 years:

  • 493.12*(1 + 3.2*13/100) = 698.26
User Asad S
by
7.7k points
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