Michael is investing $2500 at his bank. The savings account he chooses earns interest at a rate of 6% annually. How much is in the account after four years?

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Prakhar Tomar asked Mar 1, 2023

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Michael is investing $2500 at his bank. The savings account he chooses earns interest at a rate of 6%

annually. How much is in the account after four years?

Mathematics
high-school

Prakhar Tomar asked Mar 1, 2023

by Prakhar Tomar

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11 votes

P=2500
R=6%
T=4years

Interest

I=PRT/100
I=2500(6)(4)/100
I=25(24)=$600

Amount

2500+600
$3100

Lemmy answered Mar 7, 2023

by Lemmy

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