Question

You deposit $300 in an account earning 4.5% simple interest for
12 years. How much will your investment be worth at the end of
12 years?

Answer 1

Answer:$462

Step-by-step explanation:

principal(p)=$300

Rate(r)=4.5%

time(t)=12years

Simple interest=(pxrxt) ➗ 100

Simple interest=(300x4.5x12) ➗ 100

Simple interest=16200 ➗ 100

Simple interest=162

Total amount=p + simple interest

Total amount=300+162

Total amount=$462