Josh earns $2700 each summer and puts the money in a savings account with a 4.5% simple interest rate. If he deposits the same account each year, how much money will he have at the end of his third summer?

Question

Gia York

Mathematics

6 February, 03:05

Josh earns $2700 each summer and puts the money in a savings account with a 4.5% simple interest rate. If he deposits the same account each year, how much money will he have at the end of his third summer?

+2

Answers (1)

Know the Answer?

Mimi · Answer 1

he will have 8,829 dollars after 3 summers

Step-by-step explanation:

by using the cross multiplication method you can calculate how much interest is gathered after each year

eventually after 3 summers interest has built up he would have 8,829 dollars including the 2,700 he earned each year