Welcome to Westonci.ca, your go-to destination for finding answers to all your questions. Join our expert community today! Our Q&A platform offers a seamless experience for finding reliable answers from experts in various disciplines. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.
Sagot :
The simple interest is calculated as the product of the principal, rate and time. Hence, Mitchell will have $1254 in her account.
Given the Parameters :
- Principal, P = 1200
- Rate, r = 1.5%
- Time, t = 3 years
Amount in account, A = P(1 + rt)
Amount in account = 1200(1 + 0.015 × 3)
Amount in account = 1200(1.045) = 1254
Therefore, Mitchell will have $1254 after 3 years
Learn more :https://brainly.com/question/25281429
The amount that will be in the account after three years is $1,254.00.
Using this formula
B = P+ ( P x R x T)
Where:
B=Amount ?
P=Principal=$1,200
r=Rate=1.5% or 0.015
T=Time=3 years
Let plug in the formula
B=$1,200+($1,200×0.015×3)
B=$1,200+$54
B= $1,254.00
Inconclusion the amount that will be in the account after three years is $1,254.00.
Learn more here:
https://brainly.com/question/20348538
Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.