Asked by Anonymous

your parents invest $500 on each birthday since the day you were born until you're 25. each investment earns 6.4% simple interest.
how much will you have on your 25th birthday?
Answered by John
If you are talking about simple interest and not compounding interest then you would just use the formula:

A = P+ Prt

Where Prt is the interest.

500 x 25 = 12500

A = 12500 + 500(.064)(25)

Can you finish from here?

Answered by Anonymous
200
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