Respuesta :

stu141298

Answer: He will have 3750 in 5 years.

Step-by-step explanation: You need to do 500x1.5x5=3750! 500 dollars is the amount in the account. 1.5 is the interest. 5 is the amount of years.

MrWisdom
  • Initial Deposite = $500.00
  • Interest = 1.5 %

So multiply

  • 500 × 1.5 % = 7.5

7.5 percent is equal to only 1 year so ..

  • 7.5 × 5 = 37.5

Then add to 500

  • 37.5 + 500 = $537.50

537.50 is the simple interest but the annual interest is  $538.64