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James has a bank account with $500 that collects 3% interest annually. How much will be in James account after 24 months if no transaction are made?

James has a bank account with $500 that collects 3% interest annually. How much will be in James account after 24 months if no transaction are made?
asked 9.6k views
2 votes
James has a bank account with $500 that collects 3% interest annually. How much will be in James account after 24 months if no transaction are made?

asked
User Xavier Shay
by
8.2k points

1 Answer

6 votes

Answer:

$360

Explanation:

Find 3% of 500 = 15

Multiply 15 by 24 = 360

answered
User Alice Oualouest
by
6.4k points
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