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Troy and his wife Angela put 5000.00 of their savings into a bank account earning 7.25 percent interest How much will Trey and Angela have in all after 3 years?
Wiki User
∙ 13y ago
Amount Deposited = 5000
Rate of Interest = 7.25
Years = 3
Interest earned = 5000 * 7.25 * 3 / 100
= 1087.50
They will have 6087.50 at the end of 3 years (Under the assumption that no compounding was involved)
Wiki User
∙ 13y ago
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