Use the simple interest formula (I=PxRxT and Account= P+I) to find the interest joe will earn if he deposits $2500 in an account t

Question

Use the simple interest formula (I=PxRxT and Account= P+I) to find the interest joe will earn if he deposits $2500 in an account that makes 4.5% simple interest annually for 6 years. what will be his account balance at the end of 6 years?

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Gia Bảo 2 weeks 2023-01-16T23:59:53+00:00 2 Answers 0 views 0

Answers ( 2 )

  1. mocmien2
    0
    2023-01-17T00:01:22+00:00
    Reply
    Step-by-step explanation:
    • Substitute the equation with the numbers.
    •  Interest = P x R x T x Interest = 2500 x 0.045 x 6I = 675
    • Now add the interest amount(675)with the original(2500)amount:
     
    675 + 2500 = $3175
    Answer to the question:

    $3175


    His account balance at the end of 6 years is $3175.
    I hope this is helpful to you!

  2. Neala
    0
    2023-01-17T00:01:25+00:00
    Reply
    Answer:
    $3175
    Step-by-step explanation:
    Substitute the equation with the numbers.
    Interest = P x R x T
    Interest = 2500 x 0.045 x 6
    I = 675
    Add the interest amount with the original amount.
    675 + 2500 = 3175
    I hope this helps and please mark me as brainliest!

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