William wants to invest $30,000 in a mutual fund. a) Bank A has an annual interest rate of 6.5% for 5 years. How much money will he have

at the end of the 5 years? $

He will have $39,750 at the end of five years.

Step-by-step explanation:

This is a simple interest problem.

The simple interest formula is given by:

In which E is the amount of interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.

After t years, the total amount of money is:

In this question:

Interest earned:

Total amount:

He will have $39,750 at the end of five years.

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step-by-step explanation: