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09-10-2020
Mathematics

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A deposit of $10,000 is made into an account that earns 6% interest. Use
your simple interest formula, I=Prt, to calculate the balance after 15 years

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sqdancefan sqdancefan

09-10-2020

Answer:

$19,000

Step-by-step explanation:

The balance is the sum of the principal amount and the interest it earns:

A = P + I

A = P + Prt

A = P(1 +rt)

A = $10,000(1 +.06×15)

A = $19,000 . . . balance after 15 years

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