If it's simple not compound interest --
I = PRT
I = 700 * 0.06 * 5
I = ?
Add the interest to the principle.
If Sara deposited $700 at an interest rate of 6% for 5 years, and then decides to close her account, how much money will she have in total?
4 answers
I = $210?
or would I be 700+210 which is $910
Yes, you're right.
She will have a total of $910.
She will have a total of $910.