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8
Juan deposited $450 in an account that earned 7.5% simple interest.
- He did not make additional deposits and he didn't withdraw any money from the
account.
What was the balance in Juan's investment account after 3 years?
F $101.25
G $559.03
H $109.03
J $551.25

Respuesta :

samuelonum1

Answer:

J $551.25

Step-by-step explanation:

Step one:

given data

principal= $450

rate= 7.5%= 0.075

time = 3 years.

Step two:

the simple interest formula is

A=P(1+rt)

Substituting we have

A=450(1+0.075*3)

A=450(1+0.225)

A=450(1.225)

A=551.25

The answer is $551.25

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