Given
The invesment is 15000 at 10% simple interest for 1 year.
To find:
The amount in the account at the end of the first year.
Explanation:
It is given that,
The invesment is 15000 at 10% simple interest for 1 year.
That implies,
The amount in the account at the end of the first year is,
[tex]\begin{gathered} A=P+SI \\ A=15000+\frac{15000\times1\times10}{100} \\ A=15000+1500 \\ A=16500 \end{gathered}[/tex]Hence, the amount in the account at the end of the first year is, $16500.
