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

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nubeerBest ResponseYou've already chosen the best response.1
Amount = Deposit *5%*years.
 one year ago

ghaziBest ResponseYou've already chosen the best response.2
\[SI =\frac{ P*R*T }{ 100 }\] where P> principle amount =$500 R> rate of interest =5% T=2 years now plug in the values and get your result
 one year ago

ghaziBest ResponseYou've already chosen the best response.2
i thought it would be $550 i havent calculated yet but seems like that
 one year ago

TimSmitBest ResponseYou've already chosen the best response.0
If it is calculated yearly then the first year gives 500*1.05 = 525$, the second year gives 525*1.05 = 551.25$
 one year ago

TimSmitBest ResponseYou've already chosen the best response.0
It might not be "simple interest", depends on what she means there :)
 one year ago

ghaziBest ResponseYou've already chosen the best response.2
she wrote simple interest so i am not sure :)
 one year ago
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