If you deposit $800 in a savings account that earns simple interest at a rate of 1.5% per year, how much interest will you have earned after 5 years?

Question

Mathematics

Brooke Carter

27 April, 04:01

If you deposit $800 in a savings account that earns simple interest at a rate of 1.5% per year, how much interest will you have earned after 5 years?

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Answers (2)

Know the Answer?

Juliette Warner · Answer 1

You would have $60 after 5 years ... I'm not 100% sure, sorry.

Summer Hunt · Answer 2

Your first year you would have 812. Your second year you would have 824.18. Your third year you would have 836.54. Your fourth year you would have 849.08. Your 5th year you would have 861.81.