Greg invests $500 in a savings account that earns 4% simple interest annually. If he does not make any additional deposits or wi

Question

vesna_86 [32]

2 years ago

13

Greg invests $500 in a savings account that earns 4% simple interest annually. If he does not make any additional deposits or wi

thdrawals, how much money will be in the savings account after 3 years?

Mathematics

1 answer:

liberstina [14] · Answer 1 · 2022-03-18T13:51:42+03:00

liberstina [14]2 years ago

5 0

500*4 = 2,000. Since his savings account earns 4% simple interest annually he would have 2000 in his account after 3 years since he didn’t make any deposits or withdrawals.