ZaireJackson12
ZaireJackson12 ZaireJackson12
  • 27-02-2021
  • Mathematics
contestada

How long does it take an account with a principal of $500 to earn $75 in interest at a simple annual interest rate of 3%?

Respuesta :

Savannahh14
Savannahh14 Savannahh14
  • 01-03-2021

Answer:

about 5 years

Step-by-step explanation:

year 1)500*0.03= 15

year 2)515*0.03= 15.45+515=530.45

year 3)530.45*0.03= 15.91+530.45=546.36

year 4)546.36*0.03=16.39+546.36=562.75

year 5)562.75*0.03=16.88+562.75=579.63

Answer Link

Otras preguntas

What was the reaction of other Native American groups to King Philip's war?
What is 4/5 equal to?
sue uses the expression 8x3,000 8x200 8x9 to help solve a multiplication problem . what is sues multiplication problem?
The table shows there are 24 number of books Salvador has read.Find the ratio of mystery books 10 to the total. Explain its meaning
eating the leftovers of another hunter
Which states of water can you find in your home
Estimate the product of 21 and 32
Frederick Lugard justifies Britain's actions of imperialism by saying that?
What is 4/5 equal to?
eating the leftovers of another hunter