You deposit $300 in an account earning 4.5% simple interest for

12 years. How much will your investment be worth at the end of

12 years?

Question

Mathematics

Madeleine Griffin

23 November, 07:59

You deposit $300 in an account earning 4.5% simple interest for

12 years. How much will your investment be worth at the end of

12 years?

+1

Answers (1)

Know the Answer?

Guillermo Branch · Answer 1

Answer:$462

Step-by-step explanation:

principal (p) = $300

Rate (r) = 4.5%

time (t) = 12years

Simple interest = (pxrxt) ➗ 100

Simple interest = (300x4.5x12) ➗ 100

Simple interest=16200 ➗ 100

Simple interest=162

Total amount=p + simple interest

Total amount=300+162

Total amount=$462

You deposit $300 in an account earning 4.5% simple interest for12 years. How much will your investment be worth at the end of12 years?

You deposit $300 in an account earning 4.5% simple interest for

12 years. How much will your investment be worth at the end of

12 years?