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3 years ago

8

Kevin deposited $600 into a simple interest account that pays 2.8% interest yearly. The bank charges $5 for the yearly fees. If

Kevin leaves his money in the account for 5 years, how much money will he have?

1 answer:

Sedbober [7]3 years ago

7 0

Answer:

$659

Step-by-step explanation:

Interest Kevin will get after 5 years

= 600×(2.8%x5)=$84

Amount he will have after 5 years including fees

=600+84-5×5=$659

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