# 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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 Click here to see ALL problems on Money Word Problems Question 465651: 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(11171)   (Show Source): You can put this solution on YOUR website! ``` Hi, A= p(1+r)^t A = \$850*(1.08)^5 = \$1248.93 ```