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Popular Word Problems >

Brandon deposited 3600 into a savings account that has an annual simple interest rate of 0.5%. How much is in the account after 5 years?

Solução

B r an d o n d e p os i t e d 3600 in t o a s a v in g s a cco u n t t ha t ha s an ann u a l s im pl e in t eres t r a t e o f 0.5%. Ho w m u c h i s in t h e a cco u n t a f t er 5 ye a rs ?

Solução

Amount : 3690

Passos da solução

Translate the problem into an equation:

A = 3600 (1 + 0.005 \cdot 5)

3600 (1 + 0.005 \cdot 5) = 3690

Amount : 3690

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