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?

Answers

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.

Step-by-step explanation:675 + 2500 =

$3175Answer to the question:$3175His account balance at the end of 6 years is $3175.

Answer:Step-by-step explanation:3175