hylankn57stu hylankn57stu

19-03-2021
Mathematics

contestada

Bill deposits $500 into an account that pays simple interest at a rate 6% per year. How much will he be paid in the first 5 years?

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waxingmoon01 waxingmoon01

19-03-2021

The answer is A=$650

The equation to solve this is: A=P(1+rt)

More specific to this problem:
A = 500(1 + (0.06 × 5)) = 650
A = $650.00

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millcrkcotters millcrkcotters

22-03-2021

The answer is $650
Hope this helps

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