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A principal of 750$ is invested in an account at 9% per year simple interest. What is the account total after 5 years

A principal of 750$ is invested in an account at 9% per year simple interest. What is the account total after 5 years
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A principal of 750$ is invested in an account at 9% per year simple interest. What is the account total after 5 years

A principal of 750$ is invested in an account at 9% per year simple interest. What-example-1
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User Niti
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8.1k points

1 Answer

5 votes
Hi there
The formula of the future value of simple interest is
A=p (1+rt)
A future value?
P principle 750
R interest rate 0.09
T time 5years
So
A=750×(1+0.09×5)
A=1,087.5

Good luck!
answered
User Miraage
by
8.2k points
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