Answer to Question #178871 in Financial Math for David

Question #178871

Chivon invests $2757 in a simple interest account. The annual interest rate is 2.1%.

How much money in total will she have earned at the end of 3 years?

Expert's answer

"interest, I=\\frac{PRT}{100}=\\frac{(2757\\times 2.1\\times 3)}{100}=\\$173.691"

"Amount, A=P+I=2757+173.691=\\$2,930.691"

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