Question

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

Year One | | | | |
_____________________________
Year Two | | | | |

Answer 1

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

Answer 2

Thats $551.25 right?

Answer 3

What is 500 times .05 times 2?

Answer 4

50

Answer 5

yes that is correct

Answer 6

I checked with my teacher because I am in a hurry

Answer 7

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

Answer 8

The amount after each quarter I suppose.

Answer 9

oh ok
thanks

Answer 10

yw