The money will Alec have in 15 years with 3.5% simple interest is equal to 3812.5.
We have given that,
Alec opened up a savings account with $2,500 and the account will earn 3.5% simple interest.
What is the simple interest?
Simple interest refers to the straightforward crediting of cash flows associated with some investment or deposit.
2500 x 3.5%
= 87.5 x 15
= 1312.5 + 2500
= 3812.5
Therefore we get the money will he have in 15 years is equal to 3812.5.
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