pxs4996
pxs4996 pxs4996
  • 25-05-2021
  • Mathematics
contestada

An account with an initial balance of $5000 earns 5% interest for 3.5 years.

Respuesta :

altavistard
altavistard altavistard
  • 25-05-2021

Answer:

The investor will earn $875 over the course of 3.5 years.

Step-by-step explanation:

Sounds like simple interest (not compound interest).

The appropriate formula is i = prt, which here is

i = $5000(0.05)(3.5) = $875

The investor will earn $875 over the course of 3.5 years.

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