Question

Sydney invests money in an account paying a simple interest of 5.2% per year. If no
money will be added or removed from the investment, what should she multiply her
current balance by to find her total balance in a year in one step?

Answer 1

Answer:

She should multiply her current balance by 1.052.

Step-by-step explanation:

Her investment is an account with a simple interest of 5.2% per year.

So in one year, she will have 100% + 5.2% = 105.2% of her initial amount. To find the multiplier, we divide by 100%. So

105.2%/100% = 1.052

She should multiply her current balance by 1.052.