Answered

At Westonci.ca, we connect you with the best answers from a community of experienced and knowledgeable individuals. Get quick and reliable answers to your questions from a dedicated community of professionals on our platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Ralph deposited $910 in an account that pays 5.2% simple interest, for 3 1/2years.
a. How much interest did the account earn?

Sagot :

samuelonum1

Answer:

$1075.62

Step-by-step explanation:

Given data

Principal=$910

Rate= 5.2%

Time=3 1/2 years = 3.5 years

The simple interest expression is given as

A=P(1+rt)

Substitute

A=910(1+0.052*3.5)

A=910(1+0.182)

A=910*1.182

A=$1075.62

Hence the account balance will be $1075.62

Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.