You deposit $750 in an account that earns 7.5% simple interest. How much will be in the account after 5 years?
2 answers:
Answer:
$1,031.25 will be in the account
Answer:
$1031.25.
Step-by-step explanation:
The formula for simple interest is
I = PRT/100 so substituting:
I = 750 * 7.5 * 5 / 100
Interest I = $281.25.
Amount in account = 750 + 281.25
= $1031.25.
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