SOLUTION: Suppose you invest $1000 in a savings account that pays 2.5% annual interst. How much will be in the account after 5 years?
Algebra.Com
Question 857721: Suppose you invest $1000 in a savings account that pays 2.5% annual interst. How much will be in the account after 5 years?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Interest = P * N * r
P = principal
n = number of years
r = rate of interest
P=1000
n= 5 years
r= 2.5% = 0.025
Interest = 1000 * 5 *0.025
=125
Amount = principal + interest
= 1000 +125
= $1125 after 5 years
RELATED QUESTIONS
You split $2000 between two savings accounts. Account A pays 2% annual interest and... (answered by addingup)
You spill $1500 between 2 savings accounts. Account A pays 5% annual interest and Account (answered by ankor@dixie-net.com)
NEED HELP ASAP PLEASE!!
A savings account starts with $600 and pays 5% interest per... (answered by solver91311)
You deposit $1000 into an account that pays 4.8% interest compounded quarterly.
A. Write (answered by Alan3354)
you deposit $3000 in a savings account that pays 5% annual interest. if the account... (answered by Alan3354)
A person deposited $500 in a savings account that pays 5% annual interest that is... (answered by Fombitz)
A person deposited $500 in a savings account that pays 5% annual interest that is... (answered by mananth)
A per deposited $500.00 in a savings account that pays 5% annual interest that is... (answered by rfer)
a person deposits 500.00 in a savings account that pays 5% annual interest that is... (answered by rfer)