coolerthanthatgirl
coolerthanthatgirl coolerthanthatgirl
  • 19-12-2019
  • Mathematics
contestada

1. Marie deposits $125 in a savings account
that earns 3% simple annual interest. What
is the balance in the account after 3 years?

Respuesta :

Luv2Teach
Luv2Teach Luv2Teach
  • 27-12-2019

Answer:

Step-by-step explanation:

The formula for simple interest is

I = Prt

where I is the interest earned, P is the initial deposit, r is the rate in decimal form, and t is the time in years.  For us,

I = 125(.03)(3) which gives us an interest amount of

I = 11.25

To find out how much money she has total after that interest builds up, we add that interest amount to the initial investement amount to get

125 + 11.25 = 136.25

Answer Link

Otras preguntas

What is the maximum number of electrons that can be contained in the first level
How many times did obama use executive privilege
What is the value of y in this figure?
All atoms of an element have the same number of
The limbourg brothers are known for their work in
Which kingdom contains organisms that are multicellular
The limbourg brothers are known for their work in
Nancy Henderson is a saleswoman for a manufacturer of small kitchen appliances. She does not directly solicit orders. Her primary duties involve promotional act
All atoms of an element have the same number of
Louisa ran at an average speed of five miles per hour along an entire circular park path. Calvin ran along the same path in the opposite direction at an average