Josh earns $2700 each summer and puts the money in a savings account with a 4.5% simple interest rate. If he deposits the same account each year, how much money will he have at the end of his third summer?

Question

Mathematics

Tess Shaffer

8 March, 07:50

Josh earns $2700 each summer and puts the money in a savings account with a 4.5% simple interest rate. If he deposits the same account each year, how much money will he have at the end of his third summer?

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Answers (1)

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Zackary Callahan · Answer 1

he will have 8,829 dollars after 3 summers

Step-by-step explanation:

by using the cross multiplication method you can calculate how much interest is gathered after each year

eventually after 3 summers interest has built up he would have 8,829 dollars including the 2,700 he earned each year