Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

Sophia.13

  • 3 years ago

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

  • This Question is Closed
  1. Mertsj
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    First find the interest for 2 years by using the formula interest = principal times rate times time.

  2. Sophia.13
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 2

    Thats $551.25 right?

  3. Mertsj
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    What is 500 times .05 times 2?

  4. Sophia.13
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 2

    50

  5. youarestupid
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 1

    yes that is correct

  6. youarestupid
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 1

    I checked with my teacher because I am in a hurry

  7. Sophia.13
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 2

    oh ok. thanks, but i dont know what to put in the table |:

  8. Mertsj
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    The amount after each quarter I suppose.

  9. Sophia.13
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 2

    oh ok thanks

  10. Mertsj
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    yw

  11. Not the answer you are looking for?
    Search for more explanations.

    • Attachments:

Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy