Question

Suppose $22,825 is deposited into a savings account with a simple interest rate of 4.03%. Find the account balance after 5 years and 3 months.

Answer 1

Answer:

80,775

Step-by-step explanation:

I= (22,825) (0.0403) (63)

I= 57,950

P+I=A

I= A+P

I= 22,825 + 57,950

I= 80,775