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

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nubeer
 2 years ago
Best ResponseYou've already chosen the best response.1Amount = Deposit *5%*years.

ghazi
 2 years ago
Best 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

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

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

TimSmit
 2 years ago
Best ResponseYou've already chosen the best response.0It might not be "simple interest", depends on what she means there :)

ghazi
 2 years ago
Best ResponseYou've already chosen the best response.2she wrote simple interest so i am not sure :)
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