ash catch 'em from pallet town deposits $500 into a simple interest account, his rate is 2.4% and he doesnt make andy deposits or withdrawals. what will his balance be after 6 years?

Question

campbell_st · Answer

so if the interest is per annum then use the formula 

$$I = Prt$$

P = principal amount invested 500

r = interest rate as a decimal 2.4/100 = 0.024

t = number of time periods 6 years

substitute and evaluate.

anonymous · Answer

ok thanks!!!