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

Addyson George

2 October, 05:00

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?

+4

Answers (1)

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Bryan · 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?