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Suppose your dog posit $250 in a new savings account paying a Yield of 3% interest if the count is left alone how much money will be in a tote Athena five years

Respuesta :

Answer:

The amount after a time period of 5 years is $287.5.

Step-by-step explanation:

Principal Amount  deposited   =  $250

Time  = 5 Years

Rate of interest = 3%

Now, SIMPLE INTEREST = [tex]\frac{P \times R \times T}{100}[/tex]

⇒[tex]SI = \frac{250  \times 3  \times 5}{100}   = 37.5[/tex]

or, the interest amount after 5 years = $37.5

Now, AMOUNT = PRINCIPAL + INTEREST

                             =  $250  + $37.5  = $287.5

Hence the amount after a time period of 5 years is $287.5.

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