Henry deposits $25,000 into a savings account at Big City Bank. The bank pays a 2.25% simple interest. How much money will be in Henry’s account after 5 years?

Answers

Answer 1

Answer:

Henry deposits $25,000 into a Big City Bank savings account. The bank charges a simple interest rate of 2.25%. After 5 years, Henry will have $27812.5 in his account.

What exactly is an interest rate example?

It is the annual rate charged for borrowing (or made by investing), expressed as a single percentage number that represents the actual yearly cost of funds over the loan's term.

For example, if you borrow $100 at 5% interest, you will pay back $105 to the lender. The lender will profit by $5.

Throughout your life, you may develop a variety of interests. Every loan has its own interest rate, which determines the total amount owed.

We can calculate the interest rate using the interest rate formula, which is the percentage of the principal amount charged by the lender or bank to the borrower for the use of its assets or money for a specific time period. Interest Rate = (Simple Interest 100)/(Principal Time) is the interest rate formula.

Given,

P = 25000 r = 2.25%

t = 5

Replace the formula,

F = 25000 + 25000 × ( 2 .25/100) × 5

Calculate the quotient or product:

25000 × (1 + 0.1125)

Simplifying,

25000 × 1.1125

Calculate the quotient or product:

27812.5

Hence, After 5 years, Henry will have $27812.5 in his account.

To learn more about interest rate, refer to:

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Answer 2

Answer:

Answer:

$27812.5

Step-by-step explanation:

2.25% = $562.5 each year

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Answers

Answer: 13

Step-by-step explanation:

Help please! What is the distance between (-5, -6) and (-3, -8)?

Answer choices are on the picture below :)

Answers

so we take the square root of (x1-x2)^2+(y1-y2)^2
the plug in the Values
sqrt of (-5+3)^2+(-6+8)^2
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So D is your answer. :)

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Answers

you want to buy some shrimp for $100 and you have a coupon for 25% off. This lets the price drop to $75 for your shrimp. You go to the cashier and she says the tax is 5.75. To find the end price you have to multiply .0575 by $75 and then add that to the $75. You get $79.31 as your final price

Alaine has 1 gallon of paint. She is going to pour it into a paint tray that measures 10 inches wide, 12 inches long, and 5 cm deep.

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Answers

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Answers

There are no real numbers that can do that job.

There's a pair of complex numbers that can do it.
They are

   4.5 + i23.23
and
   4.5 - i23.23 .

   ' i ' = the imaginary unit = √(-1)

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