Answered

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Savings account pays 3.6% per annum simple interest. Heidi puts £400 into the bank. How much will she have in the account after five years?

Sagot :

samuelonum1

Answer:

$472

Step-by-step explanation:

Given data

Rate= 3.6%

Principal= £400

Time = 5 years

Let us apply the simple interest expression for the final amount A

A= P(1+rt)

substitute

A=400(1+0.036*5)

A=400(1+0.18)

A=400*1.18

A=$472

Hence she will have $472 in her account after 5 years

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