Question

Marco deposits $5,000 into his bank account. The interest rate on the account is 2%. What will his balance be after 3 years? (Hint: I =Prt)

Answer 1

p=5000

R=2%

T=3yrs

Explanation:

I=P*T*R/100

=5000*2*3/100

=50*2*3

=300