anonymous
  • anonymous
Find the total amount if you deposit $500 at a rate of 5% for two years using simple interest. Year One | | | | | _____________________________ Year Two | | | | |
Mathematics
katieb
  • katieb
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Mertsj
  • Mertsj
First find the interest for 2 years by using the formula interest = principal times rate times time.
anonymous
  • anonymous
Thats $551.25 right?
Mertsj
  • Mertsj
What is 500 times .05 times 2?

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anonymous
  • anonymous
50
anonymous
  • anonymous
yes that is correct
anonymous
  • anonymous
I checked with my teacher because I am in a hurry
anonymous
  • anonymous
oh ok. thanks, but i dont know what to put in the table |:
Mertsj
  • Mertsj
The amount after each quarter I suppose.
anonymous
  • anonymous
oh ok thanks
Mertsj
  • Mertsj
yw

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