A new bank customer with $
2 answers:
Answer:$3100
Step-by-step explanation:
Step one:
given data
Principal = $2500
rate = 1.2%
time = 20 years
Step two:
The simple interest is expressed as
SI= PRT/100
substitute
SI= 2500*1.2*20/100
SI= $600
The account balance after 20 years is
= principal + Simple interest
= 2500+600
<u>= $3100</u>
Answer:
$3100
Step-by-step explanation:
Step one:
given data
Principal = $2500
rate = 1.2%
time = 20 years
Step two:
The simple interest is expressed as
SI= PRT/100
substitute
SI= 2500*1.2*20/100
SI= $600
The account balance after 20 years is
= principal + Simple interest
= 2500+600
= $3100
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