3. An accountant invested $$ \$ 5000 $$ at a simple interest ate of $$ 8 \% $$ for 2 years. What total amount of money will he have from her investment?

Question

UpStudy AI · Accepted Answer

1. Write the formula for simple interest:
   
   $$
   I = P \times r \times t
   $$

2. Substitute the given values:
   
   $$
   P = 5000, \quad r = 0.08, \quad t = 2
   $$
   
   $$
   I = 5000 \times 0.08 \times 2
   $$

3. Compute the interest earned:
   
   $$
   I = 5000 \times 0.16 = 800
   $$

4. Add the interest to the initial investment to get the total amount:
   
   $$
   \text{Total Amount} = P + I = 5000 + 800 = 5800
   $$

The total amount of money from the investment is $$\$5800$$.
The accountant will have \$5800 from her investment after 2 years.

An accountant invested at a simple interest
ate of for 2 years. What total amount of money will
he have from her investment?

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An accountant invested at a simple interest ate of for 2 years. What total amount of money will he have from her investment?