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You put $1205 in an account that earns 2.5% simple interest. Find the total amount in the account after four years

You put $1205 in an account that earns 2.5% simple interest. Find the total amount in the account after four years
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you put $1205 in an account that earns 2.5% simple interest. Find the total amount in the account after four years

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User JohnHC
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2 Answers

6 votes
Answer is $1330.09 bc u would use the compound interest formula
you put $1205 in an account that earns 2.5% simple interest. Find the total amount-example-1
answered
User Patrick Coffey
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8.9k points
7 votes
1205x 0.025=30.215
1205+30.215= 1.235.215
1,235.215x4=4,940.5
The answer is 4,940.5 $
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User GBouffard
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7.9k points
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