Question

elanie opened a savings account with an initial deposit of $625. She does not plan on making any additional deposits or withdrawals. The account will earn 3% simple interest. What is the total amount Melanie can expect to have in this account at the end of 5 years?

Answer 1

@snowflake0531

Answer 2

what

Answer 3

First, find the interest that elanie will earn each year

Can you find that?

Answer 4

\(\color{#0cbb34}{\text{Originally Posted by}}\) @bralyn
what
\(\color{#0cbb34}{\text{End of Quote}}\)
she tagged me so i can help you

Answer 5

oh

Answer 6

Yes she is very smart :)

Answer 7

lol, anyways

\(\color{#0cbb34}{\text{Originally Posted by}}\) @snowflake0531
First, find the interest that elanie will earn each year

Can you find that?
\(\color{#0cbb34}{\text{End of Quote}}\)

Answer 8

ok now lets start

Answer 9

i did start._.
can you answer that?
First, find the interest that elanie will earn each year

Can you find that?

Answer 10

625? im not very smart

Answer 11

but 625?

Answer 12

initial deposit of $625
3% simple interest.

What is 625 times0.03?

Answer 13

18.75

Answer 14

?

Answer 15

?

Answer 16

Okay, and because this is for 5 years
what is 18.75 times 5

Answer 17

😅

Answer 18

93.75

Answer 19

Now add 93.75 with 650

Answer 20

743.75

Answer 21

There's your answer~