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22 December, 13:40

Pete opens a simple interest savings account that earns 5% annual interest with an initial deposit 3500. If he doesn't touch the account for 18 months, how much interest will he earn

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  1. 22 December, 13:42
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    Step-by-step explanation:

    18 months = 12 + 6 = 1 year 6 months = 1 1/2 = 3/2

    simple interest = P * r*T/100

    = 3500 * 5 * 3 / 2 * 100

    =35*5*3/2

    = 525/2

    = 262.50
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