You deposit $5,000 in an account that earns 6.5% simple interest. How much will be in the account after 3 years.

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26-02-2016
Mathematics

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You deposit $5,000 in an account that earns 6.5% simple interest. How much will be in the account after 3 years.

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ChuckN ChuckN · Answer 1 · 2016-02-27T01:24:39+01:00

ChuckN ChuckN

27-02-2016

I=prt. Interest equals percent, rate, and time. Your R is 6.5 divided by 100, which is .065 in decimal form. Your P is 5,000. And your T is 3. .065x5,000x3 is 975. 975 is your answer.

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