Question

A principal of $900 is invested in an account at 8% per year simple interest. What is the total amount of money in the account after 5 years?

Answer 1

Hi there
The formula is
A=p (1+rt)
A future value?
P present value 900
R interest rate 0.08
T time 5 years

A=900×(1+0.08×5)
A=1,260

Hope it helps