09-11-2017
Mathematics

contestada

Jackie deposited $315 into a bank account that earned 1.5% simple interest each year. If no money was deposited into or withdrawn from the account, how much money was in the account after 3 years?

Round your answer to the nearest cent.

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altavistard altavistard

09-11-2017

The formula for simple interest is i = p*r*t, where p is the principal, r is the interest rate as a decimal fraction, and t is the time in years.

Here, i = ($315) (0.015) (3) = $14.18 (answer)

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Alan6264 Alan6264

09-11-2017

I think it's 329.18......

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