SOLUTION: Suppose you deposit ​$1500 in a savings account that pays interest at an annual rate of 5​%. If no money is added or withdrawn from the​ account, answer the following questio

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Question 1139781: Suppose you deposit ​$1500 in a savings account that pays interest at an annual rate of 5​%. If no money is added or withdrawn from the​ account, answer the following questions.
a. How much will be in the account after 3 ​years?
b. How much will be in the account after 16 ​years?
c. How many years will it take for the account to contain ​$2000​?
d. How many years will it take for the account to contain ​$2500​?
Found 3 solutions by ikleyn, josmiceli, MathTherapy:
Answer by ikleyn(52803)   (Show Source): You can put this solution on YOUR website!

Answer by josmiceli(19441)   (Show Source): You can put this solution on YOUR website!
( simple interest formula )
a)





$1,725
-------------
b)




$2,700
--------------
c)




months
6 yrs 8 months
----------------
d)




13 yrs 4 months
Answer by MathTherapy(10552)   (Show Source): You can put this solution on YOUR website!

Suppose you deposit ​$1500 in a savings account that pays interest at an annual rate of 5​%. If no money is added or withdrawn from the​ account, answer the following questions.
a. How much will be in the account after 3 ​years?
b. How much will be in the account after 16 ​years?
c. How many years will it take for the account to contain ​$2000​?
d. How many years will it take for the account to contain ​$2500​?
All of @josmiceli's answers are WRONG, so IGNORE them!

Correct answers:  

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