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Answered

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Alec opened up a savings account with $2,500 and the account will earn 3.5% simple interest. How much money will he have in 15 years?

Sagot :

Answer:

3812.5

Step-by-step explanation:

2500 x 3.5% = 87.5 x 15 = 1312.5 + 2500 = 3812.5

The money will Alec have in 15 years with 3.5% simple interest is equal to 3812.5.

We have given that,

Alec opened up a savings account with $2,500 and the account will earn 3.5% simple interest.

What is the simple interest?

Simple interest refers to the straightforward crediting of cash flows associated with some investment or deposit.

2500 x 3.5%

= 87.5 x 15

= 1312.5 + 2500

= 3812.5

Therefore we get the money will he have in 15 years is equal to 3812.5.

To learn more about the money visit:

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