SOLUTION: Jerry invested $1500 in an account that paid him 8.25% simple intrest what will the balance of his account be after 6 years

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Jerry invested $1500 in an account that paid him 8.25% simple intrest what will the balance of his account be after 6 years       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 713226: Jerry invested $1500 in an account that paid him 8.25% simple intrest what will the balance of his account be after 6 years

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Jerry invested $1500 in an account that paid him 8.25% simple intrest what will the balance of his account be after 6 years
---------
A(t) = P(1 + rt)
----
A(6) = 1500(1+0.0825*6) = 1500(1.495) = $2242.5
===================================================
Cheers,
Stan H.
=============