$1500 at 4% for five years what is the balance of the account
2 answers:
I think you'd do $1500x4=$6000
The balance of the account is $1,800
Here's why:
Interest = principal x rate x time
I = 1500 x 0.04 x 5
1500 x 0.04 = 60
I = 60 x 5
I = 300
Then add with the original
1500 + 300 = 1800
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