nicholaslaw2008
Answered

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[PLEASE HELP! DUE IN 3 HOURS!]

In order to help her save money for college, Latasha's grandparents deposited $10,000 into a savings account five years ago. Latasha has not made any withdrawals or deposits since then. The interest rate on the savings account is 3.75% each year.
Using simple interest, how much interest has accrued in Latasha's savings account?

What is the total amount in Latasha's savings account?

Sagot :

Milkyboujee

Answer:

$11,875

Step-by-step explanation:

3.75×5 = 18.75%

[tex]\frac{18.75}{100}[/tex]×10000 = 18.75 × 100 = 1875 (we cut the zeros so that it will be easier to solve the equation)

10,000 + 1875 = $11,875 after 5 years

$1875 has accrued in Latasha's savings account

$11,875 is the total amount in Latasha's savings account after 5 years

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