i invest $500 at 6% simple interest how much is in my account after 90 days??

Answer 1

$507.50.

.06 (yearly)/12 = .005
montly * 3 months (90 days)
= $7.50 + $500.00 principal
= $507.50.
Good luck....

Answer 2

The KEY to handling simple interest questions is to always remember 3 things:

1) $ amount of simple interest is calculated by taking your principle x rate x time.

2) The $ amount you'll have at the end = principle + $ amount of simple interest.

3) When dealing with time in anything other than years, you have to adjust by asking yourself "How many of these periods are in 1 year?" So if you Time = 4 weeks, you'd ask "How many weeks in a year?" Since there are 52, you'd adjust Time by dividing it by 52, which would give you Time = 4 / 52.

So to answer your question, you first have to calculate the dollar amount of simple interest, and then add this to your original investment.

Answer 3

$507.50.

.06 (yearly)/12 = .005 montly * 3 months (90 days) = $7.50 + $500.00 principal = $507.50.

Answer 4

You figure that amounts to 1.5% annual over 90 days so that would amount to 507.50.