Question

Jill wants to save to buy a car. She decides to open a banking account that is offering a simple interest rate of 4.5% annually. How much will Jill have in her account after 5 years if she deposits $7,000 today?

Answer 1

Answer:The interest is: $1575

The total is: $8575

Explanation:

7000*5*0.045 gets you the interest

Then you add the original amount, 7000, to the total

1575 + 7000 = $8575