SOLUTION: Sara invests 240 dollars in an account that pays 3% per year simple interest.She leaves the money in the account for 5 years . Work out how much money Sara has at the end of 5 year
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Question 1036340: Sara invests 240 dollars in an account that pays 3% per year simple interest.She leaves the money in the account for 5 years . Work out how much money Sara has at the end of 5 years
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Sara invests 240 dollars in an account that pays 3% per year simple interest.She leaves the money in the account for 5 years . Work out how much money Sara has at the end of 5 years
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A(t) = P(1+rt)
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A(5) = 240(1+5*0.03)
Cheers,
A(5) = 240(1.15)
A(5) = $276.00
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Cheers,
Stan H.
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