SOLUTION: If you invest $5,000 in a simple interest account at 1.8 percent for 5 years, what is the amount in the account at the end of 5 years?

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Question 817846: If you invest $5,000 in a simple interest account at 1.8 percent for 5 years, what is the amount in the account at the end of 5 years?
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 
Hi,
If you invest $5,000 in a simple interest account at 1.8 percent for 5 years,
what is the amount in the account at the end of 5 years?
I = Prt
$5,000 + $5,000(.018)5 = $5,180
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