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3 years ago

William deposited 375$ into a bank account earning 2.1% simple interest. what is his new account balance be in 12 years

1 answer:

7 0

$\bf ~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$375\\ r=rate\to 2.1\%\to \frac{2.1}{100}\dotfill &0.021\\ t=years\dotfill &12 \end{cases} \\\\\\ A=375[1+(0.021)(12)]\implies A=375(1.252)\implies A=469.5$

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3 years ago

William deposited 375$ into a bank account earning 2.1% simple interest. what is his new account balance be in 12 years​

William deposited 375$ into a bank account earning 2.1% simple interest. what is his new account balance be in 12 years