Question

Suppose your dog posit $250 in a new savings account paying a Yield of 3% interest if the count is left alone how much money will be in a tote Athena five years

Answer 1

Answer:

The amount after a time period of 5 years is $287.5.

Step-by-step explanation:

Principal Amount  deposited   =  $250

Time  = 5 Years

Rate of interest = 3%

Now, SIMPLE INTEREST = $\frac{P \times R \times T}{100}$

⇒$SI = \frac{250 \times 3 \times 5}{100} = 37.5$

or, the interest amount after 5 years = $37.5

Now, AMOUNT = PRINCIPAL + INTEREST

                             =  $250  + $37.5  = $287.5

Hence the amount after a time period of 5 years is $287.5.