Question
A buisness $25,000 in an account that earns in 5.15 simple interest annually.
What is the value of the account?
What is the value of the account?
Answers
GPT 3.5
The total value of the account after one year can be calculated using the following formula for simple interest:
Total Value = Principal + Simple Interest
Total Value = $25,000 + ($25,000 * 5.15%)
Total Value = $25,000 + ($25,000 * 0.0515)
Total Value = $25,000 + $1,287.50
Total Value = $26,287.50
Therefore, the value of the account after one year will be $26,287.50.
Total Value = Principal + Simple Interest
Total Value = $25,000 + ($25,000 * 5.15%)
Total Value = $25,000 + ($25,000 * 0.0515)
Total Value = $25,000 + $1,287.50
Total Value = $26,287.50
Therefore, the value of the account after one year will be $26,287.50.