document.write( "Question 1095034: if 15,000 is invested in an account that earns 1.2% simple interest, how much money is in the account after 5 years? How much money would be in the account if the interest rate was 0.1% instead? \n" ); document.write( "

Algebra.Com's Answer #709609 by MathTherapy(10552) $\"\"$ $\"About$

You can put this solution on YOUR website!
if 15,000 is invested in an account that earns 1.2% simple interest, how much money is in the account after 5 years? How much money would be in the account if the interest rate was 0.1% instead?
\n" ); document.write( "

If the interest is WITHDRAWN from the account at the end of each interest period, then it's $15,900. 
\n" );
document.write( "If it's not, then interest will be compounded and the balance will be more than $15,900. \n" );
document.write( "

\n" );