Question

Meredith invests $18,200 in an account that earns

3.25% simple interest. What will the balance in
Meredith's account be after 15 years?

Answer 1

Take 15 divided by 3.25% then multiply the total by the number of months in one year then multiply by 15 years and add that to 18,200 which gives you 19,030.77 (rounded)