ewoodsonjr
contestada

Find the balance of a savings account at the end of 10 years old if the interest earned each year is 7.5% the principal is $500

Respuesta :

olemakpadu
Am going to assume simple interest.

Interest, I = PRT/100.   

Where P = Principal, R = Rate per year, T = time in years

Interest, I =   500 * 7.5 * 10 / 100 = 375

So the balance would be the amount in the account. That would be:

Principal + Interest

500 + 375

= 875

Balance = $875. 
mayap1
I think the answer is $875 hope this helps you

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