Jada has $70 in a savings account that earns 5% annually. The interest is not compounded. How much will she have in 1 year?

Question

asked Apr 18, 2023 167k views

1 Answer

Sdkljhdf Hda · Answer 1 · 2023-04-24T04:55:05+0000

Solution

For this case we can use the following formula:

For this case we have:

P= 70

r= 0.05

t= 1

And replacing we got:

$A=70(1+0.05\cdot1)=73.5$

Then the final answer for this case is 73.5