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Emily894
Emily894 Emily894
  • 11-01-2016
  • Mathematics
Answered

You have $250 to invest for 5 years at 3.5%. What will the total amount be in your account if it is invested using simple interest?

Verified Answer :

justinlindsey21
justinlindsey21 justinlindsey21
  • 11-01-2016

250/3.5= 72.45857142857143
72.45857142857143/5=14.28

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Anonymous Anonymous
  • 11-01-2016

Interest = PRT
$250 x 0.035 x 5 = $43.75
$250 + $43.75 = $293.95

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