anonymous
  • anonymous
Find the total amount if you deposit $500 at a rate of 5% for two years using simple interest.
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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jamiebookeater
  • jamiebookeater
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nubeer
  • nubeer
Amount = Deposit *5%*years.
ghazi
  • ghazi
\[SI =\frac{ P*R*T }{ 100 }\] where P--> principle amount =$500 R--> rate of interest =5% T=2 years now plug in the values and get your result
anonymous
  • anonymous
551.25

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

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