You deposit 580 in an account that earns simple interest at an annual rate of 4%.If no other deposits or withdrawals were made, what is the total amount of money in the account at the end of 5 years?

Solución

Solución

Amount : 696

Pasos de solución

Translate the problem into an equation:

A = 580 (1 + 0.04 \cdot 5)

580 (1 + 0.04 \cdot 5) = 696

Amount : 696

Ejemplos populares

The sum of 6 times a number and 5 is 8 .The diámetro of a circle is 12 cm. Find its area in terms of circle's radio is 8 feet. What is the circle's area? Use 3.14 or a calculator button for pi and provide an answer accurate to the nearest tenth.The sum of 6 times a number and 8 equals 9 write a function that represents the situation. "Sales of \$10,000 increase by 65% each year"