# 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?

in progress 0
2 weeks 2023-01-16T23:59:53+00:00 2 Answers 0 views 0

1. 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

\$3175

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

\$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!