Question

5 Ms. Zling deposited $850 in a savings

account that paid 4.25% simple
interest. What was the balance in her
account at the end of 2 years?

Answer 1

$ 922.25

Explanation:

General equation for simple interest ... B(t)=B(0)[1+rt]B

(0)= inital amount r= simple annual interest rate t= number of yearsFor this problem,

B (2)=$850[0.0425×2}=850×1.085 =$922.25