jewelsiswhatigoby jewelsiswhatigoby
  • 23-06-2022
  • Mathematics
contestada

Samantha invests $11,000 at 6% simple interest for 25 years.
Round your answers to the nearest cent.

Respuesta :

Naseeem88
Naseeem88 Naseeem88
  • 23-06-2022

Answer:

$27,500.00

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 6%/100 = 0.06 per year.

Solving our equation:

A = 11000(1 + (0.06 × 25)) = 27500

A = $27,500.00

The total amount accrued, principal plus interest, from simple interest on a principal of $11,000.00 at a rate of 6% per year for 25 years is $27,500.00.

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