Mathematics, 04.02.2020 14:48 coggonp
You deposit $1500 in an account that pays 5% interest yearly. how much money do you have after 6 years?
Answers: 1
![\bf ~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$1500\\ r=rate\to 5\%\to \frac{5}{100}\dotfill &0.05\\ t=years\dotfill &6 \end{cases} \\\\\\ A=1500[1+(0.05)(6)]\implies A=1500(1.3)\implies A=1950](/tpl/images/0500/7047/1bc2b.png)
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You deposit $1500 in an account that pays 5% interest yearly. how much money do you have after 6 yea...
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