Question

Olivia gave a security deposit of $1500 to her landlord, Mr. Rey, six years ago. Mr. Rey will give her the deposit back with a simple interest rate of 3.85%. How much will he return to her?


I need the equations and answer please​

Answer 1

Answer:

$1673.25

Step-by-step explanation:

si year 1 = $1500 * 0.0385 =57.75       si yr 3 =57.75*3 = $173.25    return total = 1500+ 173.25 = $1673.25