3 years ago

find the final balance in an account with $660 invested at 3.5% annual simple interest for five years.

1 answer:

3 0

The equation for simple interest is:
A=P(1+rt)
Where:
A=amount
P=principal amount
r=rate as a decimal
t=time
So:
660(1+(0.035×5))=$775.50

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