Mr. Smith deposits $5 200 in an account paying 3.5% interest. Calculate the simple interest he has earned after 39 weeks.

Question

Mr. Smith deposits $5 200 in an account paying 3.5% interest. Calculate the simple interest he has earned after 39 weeks.

Answer 1

Hello Cone

You can use

A = final amount

P =initial balance

r = annual interest rate

t = time in years

A = 5200(1+0.035*39/52) = 5336.5

hope that helps