wrebecca840
wrebecca840 wrebecca840
  • 03-10-2020
  • Mathematics
contestada

You put $4,000 in a savings account. The account earns 5.25% simple interest per year. What is the total balance after 5 years?

Respuesta :

netizenwebb netizenwebb
  • 03-10-2020

Answer:

$5,050.00

Step-by-step explanation:

Principal: $4,000

rate: .0525

time: 5 Years

Interest:

I = Principal * rate * time

I = $4,000 × 0.0525 × 5 = $1,050.00

Total balance:

Principal + Interest

$4,000 + $1,050.00 = $5,050.00

Answer Link

Otras preguntas

how do landforms affect human life
Write an algebraic expression to represent the area of the triangle. Area of triangles is one half base times height. The height is h, and the base is h + 6. Fi
What does Queen Esther ask of the king the second time she appears before him? a. to punish the treacherous Haman right away b. to come with Haman to a banque
Which is greater 2.75 gallons or 12 liters
what is sound energy
3a b2 b3 4b2 4 5a identify like terms
What percent of earths surface is made up of oxygen
which of the following types of organisms uses cellular respiration for their cellular energy needs
how much is 77 divided by 5
An ion in a mass spectrometer follows a semicircular path of radius 14.8. What is the distance it travels?