You invest $300 in an account at 7.5% per year simple interest. How much will you have in the account at the beginning of the 11th year
Added by Kevin H.
Step 1
Simple Interest = Principal x Rate x Time Simple Interest = $300 x 7.5% x 10 years Simple Interest = $300 x 0.075 x 10 Simple Interest = $225 Show more…
Show all steps
Close
Your feedback will help us improve your experience
Suman Saurav Thakur and 89 other Algebra educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
You deposit $300 in an account earning 3% interest compounded annually. How much will you have in the account in 10 years?
Adon P.
You deposit $300 in an account earning 7% interest compounded annually. How much will you have in the account in 20 years?
Erika B.
Compound Interest. How much money should you put in a savings account now that earns $3.0 \%$ a year compounded weekly if you want to have $\$ 80,000$ in 15 years?
Exponential and Logarithmic Functions
Exponential Functions and Their Graphs
Recommended Textbooks
Elementary and Intermediate Algebra
Algebra and Trigonometry
Transcript
600,000+
Students learning Algebra with Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD
