Alishan has a savings account with a balance of $20,000. Find the balance after 15 years with a simple annual interest rate of 3.71%. $34,541.37 $31,541.37 $31,130.00 $11,130.00
Alishan has a savings account with a balance of $20,000. Find the balance after 15 years with a simple annual interest rate of 3.71%. $34,541.37 $31,541.37 $31,130.00 $11,130.00
Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.2: Solve Percent Applications
Problem 3.43TI: Sean’s new car loan statement said he would pay $4,866.25 in interest from an interest rate of 8.5%...
Related questions
Question
Alishan has a savings account with a balance of $20,000. Find the balance after 15 years with a simple annual interest rate of 3.71%.
$34,541.37
$31,541.37
$31,130.00
$11,130.00
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning