Patricio deposits $500 in a savings account that pays 1.5% simple interest. He does not withdraw any money from the account, and he makes no other deposits.

How much money does Patricio have in the savings account after 5 yr?

Patricio deposits $500 in a savings account that pays 1.5% simple interest. He does not withdraw any money from the account, and he makes no other deposits.

How much money does Patricio have in the savings account after 5 yr?

Answer:Step-by-step explanation:Answer: He will have 3750 in 5 years.Step-by-step explanation:You need to do 500×1.5×5. 500 dollars is the amount in the account. 1.5 is the interest. 5 is the amount of years.