Jason puts 500$ in a savings account at an annnual interest rate of 3% if he does not put money in or take money out what is the
interst he will get at the end of 8 months round up to the nerest cent
1 answer:
Answer:
$500.1
Step-by-step explanation:
Step one:
principal= $500
rate= 3%
time 8 months
Required
The final amount
Step two;
simple interest= PRT/100
SI= (500*0.03*8/12)/100
SI=10/100
SI=0.1
The final amount is
Amount= 500+0.1
Amount= $500.1
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