As incentive for Gretchen to save the two thousand five hundred dollars she recently inherited, her parents tell her that they will pay her ten percent simple annual interest on the amount that she saves. How much money will Gretchen have after 5 years if she saves all of the money she inherited?

two thousand six hundred forty dollars

two thousand nine hundred fifty-five dollars

three thousand fifty-six dollars

three thousand seven hundred fifty dollars

Question

As incentive for Gretchen to save the two thousand five hundred dollars she recently inherited, her parents tell her that they will pay her ten percent simple annual interest on the amount that she saves. How much money will Gretchen have after 5 years if she saves all of the money she inherited?

two thousand six hundred forty dollars

two thousand nine hundred fifty-five dollars

three thousand fifty-six dollars

three thousand seven hundred fifty dollars

anonymous · Answer

d

uri · Answer

Why don't you try doing it yourself rather than asking people for it. Did you try understanding the question? Even read it? @_lilb_to_smooth_4_U_

anonymous · Answer

explanation?

uri · Answer

@A.K.C.15 You're not allowed to give direct answers. http://openstudy.com/code-of-conduct

anonymous · Answer

@_lilb_to_smooth_4_U_ : Haven't I gave you so much formulas and reasoning before...Try to apply them

anonymous · Answer

$$I = \frac{ P \times R \times T }{ 100 }$$...Plug the values and calculate it and answer it

anonymous · Answer

well sorry @uri I'm new to this