Answer:
$ After 3 years
Step-by-step explanation:
Use I P R T it's a method for simple interest
I = Interest
P = Amount of money
R = Percent in decimal
T = Time in years
Answer:
I = (we dont know yet)
P = $
R = %
T =
Steps:
1. Set up your numbers with the method I P R T.
2. $65 will be your amount of money.
3. 7.5% needs to be converted because you will need to multiply later on in the problem. Simply move 2 places to the left to convert your percent into a decimal.
4. They want to know the total amount of money in his account at the end of 3 years. So 3 years will be your time in years.
5. After setting up your problem you need to multiply your Amount of money x percent as decimal x time in years.
6. After you find your interest you need to add your amount of money + interest.
Money after 3 years
hope this helped