Carl has $500 in a saving account that pays 5% simple interest. What is the total amount of money Carl will have in his bank acc

Question

3 years ago

10

ount after 3 years if he leaves his money in the bank?
A. $75
B. $575
C. $750
D. $7,500

1 answer:

gregori [183] · Answer 1 · 2022-05-06T12:02:30+03:00

8 0

Answer:

B

Step-by-step explanation:

5% of 500 = 25

5% of 525 = 26.25

5% of 551.25 = 27.56

This ends up being exactly $578.81 but for this example it would be simplified to $575