Question

Mak deposited $493.12 in a savings account that earns 3.2% simple interest. What is Mak's account balance after 13 years?

Answer 1

Answer:

$698.26

Step-by-step explanation:

• Deposit = $493.12
• Interest rate = 3.2% simple
• Time = 13 years

Balance after 13 years:

• 493.12*(1 + 3.2*13/100) = 698.26