Question

you invest $300 in an account at 7.5% per year simple interest. how much will you have in the account at the beginning of the 11th year? round your answer to the nearest whole dollar.

Answer 1

Answer:

solution:

Given;

P = $300

R = 7.5% per year

T = 11 years

Simple internet = ?

As we know that;

Simple internet= p×t×r

_____

100

= $247.5