SOLUTION: Sonja and jake just got married , They received a $2,500 in a gift money and deposited it into a savings account that pays 5.25% simple interest. How much will they have in saving

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Question 1027727: Sonja and jake just got married , They received a $2,500 in a gift money and deposited it into a savings account that pays 5.25% simple interest. How much will they have in savings after 10 years of marriage?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+I+=+P%2Ar%2At+
+I+=+2500%2A.0525%2A10+
+I+=+1312.5
+I+%2B+P+=+1312.5+%2B+2500+
+I+%2B+P+=+3812.5+
They have $3,812.50 in savings after 10 years of marriage