SOLUTION: How much will be in someone's account at the end of 3 years if they deposit $700 and the simple interest is 5% per year?

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Question 567483: How much will be in someone's account at the end of 3 years if they deposit $700 and the simple interest is 5% per year?

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
How much will be in someone's account at the end of 3 years if they deposit $700 and the simple interest is 5% per year?
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A(t) = P(1 + rt)
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A(3) = 700(1 + 0.05*3) = 700*1.15 = 805
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Cheers,
Stan H.
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