Question

Help please. Peitra has $1,000 to deposit into a bank. She puts the money into an account that

earns monthly simple interest of 1.25%. She leaves it there for two years.
How much money does she have?

Answer 1

hey i hope this helped you!

Answer 2

`~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$1000\\ r=rate\to 1.25\%\to (1.25)/(100)\dotfill &0.0125\\ t=years\dotfill &2 \end{cases} \\\\\\ A=1000[1+(0.0125)(2)]\implies A=1000(1.025)\implies A=1025`