2 years ago

A savings account earns 6% simple interest per year. The principal is $800. What is the balance after 18 months?

Mathematics

1 answer:

Ilia_Sergeevich [38]2 years ago

8 0

Answer:

$872

Step-by-step explanation:

Simple interest = Principle * Rate * Time / 100

= ( 800 * 6 * 18/12 ) / 100

= $ 72

The balance after 18 months = principle + interest

= 800 + 72

= $ 872

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