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You deposit $ 8 , 7 1 9 today in a bank account that promises simple interest payments ( yearly ) at a rate of
You deposit $ today in a bank account that promises simple interest payments yearly at a rate of If you do not withdraw neither your initial deposit nor your interest gains, how much money will you have in such account in years?
Hint: Keep in mind in simple interest you do not gain interest on your interest gains payments These interest gains are not "reinvested".
Keep in mind: If you are using your BAII Plus calculator, you should plug the rate as percentage integer If you are solving by hand you should plug the rate as decimal.
Please do not type the $ symbol. Round your answer to the nearest three decimals if needed.
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