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Mr thompson plans to invest $7,500 in a savings account that earns 2.75% simple nnual interest. If he makes no other deposits or withdrawals, how much money will his account be …

Mr thompson plans to invest $7,500 in a savings account that earns 2.75% simple nnual interest. If he makes no other deposits or withdrawals, how much money will his account be …
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mr thompson plans to invest $7,500 in a savings account that earns 2.75% simple nnual interest. If he makes no other deposits or withdrawals, how much money will his account be worth after 10 years?

asked
User Mandar Chitre
by
7.7k points

1 Answer

1 vote
y=7,500(1+0.0275)^x
y=7,500(1.0275)^10
y=9,837.38
answered
User Jay Mitchell
by
7.9k points
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