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OpenStudy (anonymous):
Lonnie places $950 in a savings account that earns 5.75% simple interest. Find the total amount in the account after four years.
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OpenStudy (anonymous):
total amount = P+SI =950 + PTR/100 =950 + 950*4*5.75/100 =1168.5
OpenStudy (anonymous):
you wont get richer with this rate of simple interest
OpenStudy (anonymous):
William’s inheritance from his great uncle came to $225,000 after taxes. If William invests this money in a savings account at 7.3% interest, how much will he earn from the account each year?
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