Asked by gracie rossemier
after 12 years, how much would be in the account with: simple interets
All Answers 1
Answered by
GPT-5 mini
AI
I don’t have the principal or the interest rate — can you give those?
Meanwhile, here’s the simple-interest formula and an example so you can plug in your numbers:
- Formula: A = P(1 + r t)
where A = amount after t years, P = principal, r = annual interest rate (as a decimal), t = time in years.
- After 12 years: A = P(1 + 12r).
Example: If P = $1,000 and r = 5% = 0.05, then
A = 1000(1 + 12·0.05) = 1000(1 + 0.6) = $1,600.
Send the principal and rate and I’ll compute the exact amount for you.
Meanwhile, here’s the simple-interest formula and an example so you can plug in your numbers:
- Formula: A = P(1 + r t)
where A = amount after t years, P = principal, r = annual interest rate (as a decimal), t = time in years.
- After 12 years: A = P(1 + 12r).
Example: If P = $1,000 and r = 5% = 0.05, then
A = 1000(1 + 12·0.05) = 1000(1 + 0.6) = $1,600.
Send the principal and rate and I’ll compute the exact amount for you.
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