Darren invests $750 in an account that pays 2.5% simple interest for 40 weeks. How much will his investment be worth at the end

Question

Dahasolnce [82]

3 years ago

14

Darren invests $750 in an account that pays 2.5% simple interest for 40 weeks. How much will his investment be worth at the end

of this time?

Mathematics

2 answers:

Yuliya22 [10] · Answer 1 · 2022-04-04T18:28:25+03:00

Answer:

$764.42

Step-by-step explanation:

The account balance is given by the formula ...

A = P(1 +rt)

where P is the principal invested, r is the annual rate, and t is the number of years. Here, we assume 52 weeks in the year, since the time period is given in weeks.

Filling in the numbers, we have ...

A = $750(1 +0.025(40/52)) = $764.42

Darren's investment will be worth $764.42 at the end of 40 weeks.

Anna11 [10] · Answer 2 · 2022-04-04T19:48:29+03:00

Anna11 [10]3 years ago

3 0

$764.42, hope this helps!