Russell deposited $650 in a savings account that earns 3% simple annual interest. If he makes no other deposits or withdraws, what will the balance of Russell's account be after 6 years?

Question

Russell deposited $650 in a savings account that earns 3%  simple annual interest. If he makes no other deposits or withdraws, what will the balance of Russell's account be after 6 years?

anonymous · Answer

You are going to fail your exams if you don't try to figure any of this stuff out.

anonymous · Answer

The answer is E

bahrom7893 · Answer

What's a simple annual interest?

faman39 · Answer

Can u do another?

bahrom7893 · Answer

theyre all simple annual interest. hold on let me look up the formula.

bahrom7893 · Answer

I = P*r*t
I = interest
P = Principal
t = time
r = rate

bahrom7893 · Answer

Russell deposited $650 in a savings account that earns 3%  simple annual interest. If he makes no other deposits or withdraws, what will the balance of Russell's account be after 6 years? Hm what are principal and other stuff in this equation?

anonymous · Answer

find interest 

P* R* T 

P=650

R=.03

T=6

and add it to principle of $650

bahrom7893 · Answer

imran to the rescue lol, sorry faman i haven't really done applied math. Like if u give me the formulas and what stands for what, I'll get u the answer. Otherwise, I'm pretty much helpless lol