Open study

is now brainly

With Brainly you can:

  • Get homework help from millions of students and moderators
  • Learn how to solve problems with step-by-step explanations
  • Share your knowledge and earn points by helping other students
  • Learn anywhere, anytime with the Brainly app!

A community for students.

Find the total amount if you deposit $500 at a rate of 5% for two years using simple interest.

Mathematics
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Join Brainly to access

this expert answer

SIGN UP FOR FREE
Amount = Deposit *5%*years.
\[SI =\frac{ P*R*T }{ 100 }\] where P--> principle amount =$500 R--> rate of interest =5% T=2 years now plug in the values and get your result
551.25

Not the answer you are looking for?

Search for more explanations.

Ask your own question

Other answers:

it is 551.25
$
i thought it would be $550 i havent calculated yet but seems like that
thank you
:D YW
Thanks guys.
welcome
NP :)
If it is calculated yearly then the first year gives 500*1.05 = 525$, the second year gives 525*1.05 = 551.25$
cool :)
It might not be "simple interest", depends on what she means there :)
she wrote simple interest so i am not sure :)

Not the answer you are looking for?

Search for more explanations.

Ask your own question