jskenzdjd jskenzdjd
  • 03-04-2016
  • Mathematics
contestada

$900 deposited at an interest rate of 3% for 5 years

Respuesta :

mo2015 mo2015
  • 03-04-2016
.03 times 900 is 27

27 times 5 is $135
Answer Link
penfila11Pen
penfila11Pen penfila11Pen
  • 03-04-2016
I=PRT
P for Price/Principle amount
R for Rate
T for Time in years
I=$900×0.03×5       (3%=[tex] \frac{3}{100} [/tex]=0.03)
 =$135
Interest=$135
If they want you to find how much is left by the end of the 5th year, you do this:
Original+Interest
$900+$135
=$1035
Answer Link

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