Raffy deposited $5000 in an investment account for 3 months. The account paid simple interest at a rate of 2.4 percent. What is the future value of his investment?
A. $5235.75
B. $5120.00
C. $5030.00
D. $5360.00
simple interest=Principal*Interest Rate*Time Period
=$5000*2.4%*(3/12)=$30
Hence future value=Principal+simple interest
=5000+30
=$5030.
Raffy deposited $5000 in an investment account for 3 months. The account paid simple interest at...
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