Asked by Trish Goal

When Frederick was born, his grandparents gave hima a gift of $2000, which was invested at a simple interest rate of 5% per year. How much money will Frederick have when he can collect the monet at the age of 18? ( Assume no money is added to the account besides the interest.)
Answered by Steve
2000(1+.05*18)
Answered by BetterSteve
(1 + (nr)/(100))(\$2000) = 3800
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