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A student puts $250 into an account that pays 2% simple interest every year. How much money in total is in their account after 3 years?

A student puts $250 into an account that pays 2% simple interest every year. How much money in total is in their account after 3 years?
asked 75.8k views
1 vote
A student puts $250 into an account that pays 2% simple interest every year. How much

money in total is in their account after 3 years?

asked
User Shane Davies
by
8.1k points

1 Answer

1 vote
$250 x 1.02^3 = 265.302.

Total money in their account after 3 years = $265.30
answered
User Dan Weaver
by
8.0k points
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