The most appropriate choice for simple interest will be given by- Balance of Jose after 1 year is $1050
What is simple interest?
Simple interest is the interest applied on the principal value after charging some certain percentage of rate for some certain amount of time.
If the principal value is p, rate is r % per annum and time is t years
Simple interest is calculated as
SI = p ₓ r ₓ t / 100
Here,
Principal for Jose = $1000
Rate = 5%
Time = 1 year
Simple interest = 1000x5x1/100
= $50
Amount = $(1000+50)
= $1050
Balance of Jose after 1 year is $1050
To learn more about simple interest, refer to the link:
brainly.com/question/25793394
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