If you deposit $800 in a savings account that earns simple interest at a rate of 1.5% per year, how much interest will you have earned after 5 years?

Question

Finley Vance

Mathematics

22 January, 15:08

If you deposit $800 in a savings account that earns simple interest at a rate of 1.5% per year, how much interest will you have earned after 5 years?

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Answers (2)

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Kate Lester · Answer 1

Your first year you would have 812. Your second year you would have 824.18. Your third year you would have 836.54. Your fourth year you would have 849.08. Your 5th year you would have 861.81.

Holly Snyder · Answer 2

You would have $60 after 5 years ... I'm not 100% sure, sorry.