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If $38 is invested at a simple interest rate of 2% per year, what would the total account balance be after forty years?

If $38 is invested at a simple interest rate of 2% per year, what would the total account balance be after forty years?
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if $38 is invested at a simple interest rate of 2% per year, what would the total account balance be after forty years?

asked
User Aida E
by
7.9k points

1 Answer

1 vote

The answer is$30.40

I=P×R×T

I=38×.02×40

I=30.40

answered
User Jonas Praem
by
7.7k points
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