Ask your own question, for FREE!
Mathematics 14 Online
OpenStudy (anonymous):

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

OpenStudy (mertsj):

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

OpenStudy (anonymous):

Thats $551.25 right?

OpenStudy (mertsj):

What is 500 times .05 times 2?

OpenStudy (anonymous):

50

OpenStudy (anonymous):

yes that is correct

OpenStudy (anonymous):

I checked with my teacher because I am in a hurry

OpenStudy (anonymous):

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

OpenStudy (mertsj):

The amount after each quarter I suppose.

OpenStudy (anonymous):

oh ok thanks

OpenStudy (mertsj):

yw

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!