An account earn simple interest $200 at 3% for 5 years what is the account balance

$230

Step-by-step explanation:

We can use the simple interest formula for this:

P = initial balance

r = annual interest rate

t = time

First, lets change 3% into a decimal:

3% -> -> 0.03

Now, lets plug the values into the equation:

The account balance is $230

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