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Find the balance of a savings account after 5 years using simple interest if the initial deposit was $100,000 and it earns 1.5% interest.

Find the balance of a savings account after 5 years using simple interest if the initial deposit was $100,000 and it earns 1.5% interest.
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5 votes
Find the balance of a savings account after 5 years using simple interest if the initial deposit was $100,000 and it earns 1.5% interest.

asked
User Rig Veda
by
8.4k points

1 Answer

3 votes

Answer:

7500

Explanation:

5 × 100,00= 500,000

500,000 × 1.5% = 7500

answered
User Kukiwon
by
8.2k points
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