SOLUTION: A principal of $850 is invested in an account at 8 percent per year simple interest. What is the amount of the principal after 5 years? Do not include units in your answer.
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Question 465651
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A principal of $850 is invested in an account at 8 percent per year simple interest. What is the amount of the principal after 5 years? Do not include units in your answer.
Answer by
ewatrrr(24785)
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Hi,
A= p(1+r)^t
A = $850*(1.08)^5 = $1248.93
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