Register

James made a deposit in a savings account 5 years ago. The account pays 4% simple annual interest. Since then, he has earned $120 in interest. What is the current balance in his…

James made a deposit in a savings account 5 years ago. The account pays 4% simple annual interest. Since then, he has earned $120 in interest. What is the current balance in his…
asked 143k views
4 votes
James made a deposit in a savings account 5 years ago. The account pays 4% simple annual interest. Since then, he has earned $120 in interest. What is the current balance in his account?

A. $200
B. $600
C. $720
D. $780

asked
User Martin Cron
by
8.5k points

2 Answers

4 votes

Answer:

720 is correct

answered
User LocoMike
by
8.0k points
0 votes
I=prt,,120=5*0.04p,,p=600 the answer is 720
answered
User Mirian
by
8.2k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!