Problema Solution
Find the future value of the deposit if the account pays simple interest.
$900 at 3% for 2.3 years
My answer = $962.10
Answer provided by our tutors
P = $900
R=3%
T=2.3 years
S.I. = P*R*T/100 = 900*3*2.3/100 = $62.10
Future value = 900 + 62.10 = $962.10 [Ans.]