3 years ago

What is the balance of your bank account after two years if you deposit $3000 and it earns 5% simple interest?

Mathematics

1 answer:

Semmy [17]3 years ago

7 0

$3307.5
Work:
A=P(1+(r/n))^(nt)
A=3000(1+(0.05/1))^(1*2)
A=3000(1.05)^2
A=$3307.5

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