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hichkok12 [17]
3 years ago
6

#1 - HINT - you are finding the total amount make sure you add the interest you calculate to the original deposit amount

Mathematics
2 answers:
Andreyy893 years ago
8 0

Answer:

$292.50

Step-by-step explanation:

Equation - A = P(1 + rt)

Calculation:

First, converting R percent to r a decimal

r = R/100 = 2.5%/100 = 0.025 per year.

Solving our equation:

A = 260(1 + (0.025 × 5)) = 292.5

A = $292.50

The total amount accrued, principal plus interest, from simple interest on a principal of $260.00 at a rate of 2.5% per year for 5 years is $292.50.

romanna [79]3 years ago
3 0
Your Answer Should Be: A=$292.50
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