You invest $5000 in a savings account that earns 4.5% APR simple interest for 6 years. ( a. How much interest will this investment earn?

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asked Dec 15, 2018 192k views

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Afrish · Answer 1 · 2018-12-21T19:58:05+0000

A = P (1 + r/n) (nt)
A = the future value of the investment
P = (the initial deposit or loan amount)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per year
t = the number of years the money is invested

You invest $5000 in a savings account that earns 4.5% APR simple interest for 6 years. ( a. How much interest will this investment earn?

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