Question

A principal of 750$ is invested in an account at 9% per year simple interest. What is the account total after 5 years

Answer 1

Hi there
The formula of the future value of simple interest is
A=p (1+rt)
A future value?
P principle 750
R interest rate 0.09
T time 5years
So
A=750×(1+0.09×5)
A=1,087.5

Good luck!