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OpenStudy (anonymous):
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?
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OpenStudy (campbell_st):
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.
OpenStudy (anonymous):
ok thanks!!!
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