SOLUTION: you invest $2,500. If you maintain a balance of $2,500 for a whole year, your interest rate will be .50%. How much will your balance be at the end of the year.

Question 224095: you invest $2,500. If you maintain a balance of $2,500 for a whole year, your interest rate will be .50%. How much will your balance be at the end of the year.
Found 2 solutions by rapaljer, shreeaseem007@yahoo.in:
Answer by rapaljer(4671) (Show Source): You can put this solution on YOUR website!
Is this simple interest? Is it compound interest? If compound, what kind of compound interst is it?

Dr. Robert J. Rapalje
Answer by shreeaseem007@yahoo.in(3) (Show Source): You can put this solution on YOUR website!
is this simple interest? is it compound interest? if it is compound interest what kind of interest is iy?
RELATED QUESTIONS
My teacher didn't give me any formulas for these things.. please help me!! T~T 1. You (answered by KMST)
You invest $1, 500 in an account that has an annual interest rate of 3.4%, compounded... (answered by Alan3354)
I deposit $500. into an account that pays simple interest at a rate of 6% per year. How... (answered by reviewermath,colliefan)
I need some help with a word problem Please. A bank compounds interest continuously.... (answered by funmath,joyofmath)
You have $500 in your savings account. Suppose you have a choice of keeping your money... (answered by EMStelley)
You have a good credit score, $100,000 for a down payment, and $2,500 per month available (answered by Theo)
Your Credit card has a balance of $5200 and an annual interest rate of 12%. You decide to (answered by Theo)
You plan to invest $600 in your savings account this year and then you intend to increase (answered by Theo)
You decided to invest $500 into a savings account that compounds at a rate of 2.5%... (answered by ikleyn)