To find out how much Margarito will have in her savings accounts after 8.5 years we will multiply our factors. However, first we need to change our percentage into a decimal. To change it, you have to move your decimal two places to the left which will give us 0.056.
Now, let's multiply!
500 x 0.056 x 8.5 = 238
$238 is the amount of interest that she has earned in 8.5 years. Therefore, we'll add that amount to the original deposited amount.
500 + 238 = 738
Therefore, she'll have $738 after 8.5 years.
