Answered

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Arian has 780 in a savings account that earns 2.5% simple interest annually. How much money will be in her account if she does not make any deposits or withdrawals in 2 years?

Sagot :

Answer:

819

Step-by-step explanation:

We solve the above question using simple interest

The formula for the total amount in a bank amount when it earn simple interest annually is:

A = P(1 + rt)

When

P = Initial amount in the account = 780

r = Simple Interest rate = 2.5% = 0.025

t = 2 years

A = 780(1 + 0.025 × 2)

A = 780(1 + 0.050)

A = 780(1 .050)

A = 819.00

The amount of money that will be in her account if she does not make any deposits or withdrawals in 2 years is 819.

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