SOLUTION: Suppose that you invest $1800 in an account that earns simple interest at an APR of 5.2%. Determine the accumulated balance after 5 years.

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Question 1053857: Suppose that you invest $1800 in an account that earns simple interest at an APR of 5.2%. Determine the accumulated balance after 5 years.
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Suppose that you invest $1800 in an account that earns simple interest at an APR of 5.2%. Determine the accumulated balance after 5 years.
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A(t) = P(1+r*t)
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A(5) = 1800(1+0.052*5) = $2268
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Cheers,
Stan H.
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