Mathematics: An account earn simple interest $200 at 3% for 5 years what is the account balance

Area : [tex]13 imes 358 = 4654[/tex]answer : 4654 sq. yards.hope this . - m...

An account earn simple interest $200 at 3% for 5 years

kmh05

25.01.2022

$230

Step-by-step explanation:

We can use the simple interest formula for this:

A = P (1 + rt)

P = initial balance

r = annual interest rate

t = time

First, lets change 3% into a decimal:

3% -> $\frac{3}{100}$ -> 0.03

Now, lets plug the values into the equation:

A=200(1+(0.03)(5))

A=230

The account balance is $230

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