contestada


Vance invests $15,000 in an account
that pays 3 1/4% simple interest for
72 months. Assuming Vance doesn't
make any other deposits or
withdrawals, how much will be in his
account after 72 months?

Respuesta :

ovoidjake

Answer:

20,315.00

Step-by-step explanation:

hope this helps not sure if right though

don't put my answer I'm so confused sorry.

The amount that will be in his account after 72 months is $15487.5.

We have given that,

Principal = $15,000

What is the formula for the amount?

Amount = Principal + Interest

Principal = $15,000

Get the interest

What is the formula for interest?

Interest = PRT/100

Interest = 15000*13/4 * 3/100 (72months = 3years)

Interest = 195000/400

Interest = $487.5

Amount = 15000 + 487.5

Amount= $15487.5

Hence he will have $15.

Therefore, The amount will be in his account after 72 months.

To learn more about the amount visit:

https://brainly.com/question/1972490

#SPJ2

Otras preguntas