Question

Al invests $250 in a savings account that earns 2.5% simple interest annually. If he does NOT make any additional deposits or withdrawals, how much money will be in the savings account after 2 years?

Answer 1

Answer: Interest= PRT/100

                            = 250×2.5×2/100

                              =$2

Amount= Principal+ Interest

            = $250+$2

             =$ 252( Investment at the end of the period)

Step-by-step explanation: Hope this helps.