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3 years ago

11

Elizabeth’s aunt started a college savings account for her with $6,000. What is the balance of the account after 5 years if the

simple interest rate is 2.5%

1 answer:

vaieri [72.5K]3 years ago

7 0

Answer:

6750

Step-by-step explanation:

simple interest = P×r%×t

P = $6000

r = 2.5%

t = 5 years

I = 6000 × 2.5/100 × 5

= 750

6000 + 750 = $6750

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