If lucas puts 1500 in a saving account that pays 3% interest compounded annually, how much money will he have in the account after 5 years?
+373 Hey there, Guest!
So if Lucas gets 3% of $1500 each year, then he's earning $45 a year.
So, 45*5=$225.
Then, we do the simple equations part:
$1500
+ $ 225
---------------
$1725
So, after 5 years, Lucas would have $1725 in his savings account.
Hope this helped!
( ﾟдﾟ)つ Bye
