Answer:
$5,450
Explanation:
Simple interest is constant throughout the 5 years
Formula for simple interest is principal amount multiplied by interest rate
Calculation amount { A }after five years
A= P(1 + r t)
Here,
P= $5000,00
R= 1.8 percent
T=5 years
A= 5000(1+ 1.8/100 x 5)
A= 5000(1 + 0.018 x 5)
A= 5000x 1 +0.09
A= 5000 x 1.09
A=$5,450
