sonja and jake just got married. they received $4500 in gift money and deposited it into a savings account that pays %2.85 simpl
e interest. how much will they have in savings after 3 years?
1 answer:
9514 1404 393
Answer:
$4884.75
Step-by-step explanation:
The amount in a simple interest account is given by the formula ...
A = P(1 +rt)
Here, we have principal P=$4500, interest rate r=0.0285, and time t=3. Then the amount in the savings account will be ...
A = $4500(1 +.0285·3) = $4500·1.0855 = $4884.75
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hope it helps, brainliest pls!
