Shearand8ylexluna Shearand8ylexluna
  • 09-12-2016
  • Mathematics
contestada

IS MY ANSWER CORRECT? If you would like to make $1213 in 8 years, how much would you have to deposit in an account that pays simple interest of 5%?
I=1213(.05)(8) I=388.16 Interest Earned is $388.16 1213+388.16=1601.16

Respuesta :

Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 09-12-2016
you can use this formula A=p(1+tr),,1213=p(1+.05*8),,p=866.43
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