Answered: 37. Savings Gabriel Branson invested…

37. Savings Gabriel Branson invested his summer earnings of $3000 in a savings account for college. The account pays 1.5% simple interest. What will be the value of this account after 2 years?

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money

Section: Chapter Questions

Problem 9.18E

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Question

37. Savings Gabriel Branson invested his summer earnings of
$3000 in a savings account for college. The account pays
1.5% simple interest. What will be the value of this account
after 2 years?

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