Use the simple interest formula to find the amount of interest eaned, then find the total value of the account. A $1,250 deposit for 10 years at a simple interest rate of 5.25%. Sinple Interesr I= prt Interest = S Total Value =DS

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 26E
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Use the simple interest formula to find the amount of interest earned, then find the total value of the account.
A $1,250 deposit for 10 years at a simple interest rate of 5.25%.
Simple Interesr
I= prt
Interest = S
Total Value =DS
Transcribed Image Text:Use the simple interest formula to find the amount of interest earned, then find the total value of the account. A $1,250 deposit for 10 years at a simple interest rate of 5.25%. Simple Interesr I= prt Interest = S Total Value =DS
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