Juan deposited $550 in an account that earned 2.5% simple interest. He did not make additional deposits and he didn't withdraw a

Question

1 year ago

10

Juan deposited $550 in an account that earned 2.5% simple interest. He did not make additional deposits and he didn't withdraw a

ny money from the account. What was the balance in Juan's investment account after 18 years? (Refer to the digital Reference Material to assist in determining the correct formula.)

Mathematics

1 answer:

Degger [83] · Answer 1 · 2024-06-19T21:13:06+03:00

Degger [83]1 year ago

3 0

Answer:

$551.25

Step-by-step explanation:

$450 x 7.5% = 33.75

33.75 x 3 = 101.25

101.25 + 450 = 551.25