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26 September, 10:18

You have $250 to invest for 5 years at 3.5%. What will the total amount be in your account if it is invested using simple interest?

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Answers (2)
  1. 26 September, 10:36
    0
    250/3.5 = 72.45857142857143

    72.45857142857143/5=14.28
  2. 26 September, 10:45
    0
    Interest = PRT

    $250 x 0.035 x 5 = $43.75

    $250 + $43.75 = $293.95
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