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Charli deposits $5,000 in a savings account earning 5.75% simple interest per year. PART A: How much interest will Charli earn for a period of 10 years? PART B: How much money w…

Charli deposits $5,000 in a savings account earning 5.75% simple interest per year. PART A: How much interest will Charli earn for a period of 10 years? PART B: How much money w…
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Charli deposits $5,000 in a savings account earning 5.75% simple interest per year.

PART A: How much interest will Charli earn for a period of 10 years?

PART B: How much money will there be in Charli's account after 10 years?


I need help quick! Could you and by putting PART A: (answer) and PART B: (answer) Thank you!!! Please help!

User Maystro
by
7.6k points

2 Answers

5 votes

Answer:

PART A: 2,875

Explanation:

User Kokizzu
by
8.7k points
5 votes
The total amount accrued, principal plus interest, from simple interest on a principal of $5,000.00 at a rate of 5.75% per year for 10 years is $7,875.00.
User Everreadyeddy
by
8.6k points
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