Question

You invested 50,000 in a bank that pays 4.5% monthly simple interest, How much do you have after 2.5 years?

Answer 1

I trhink you´ll have 117000

my explanation:

4.5 × 12=54%

54%=1 year

54% + 54%

108% + 27%

135% =67000

67000 + 50000