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Inga [223]
1 year ago
8

Four years ago, Jennifer opened a saving account that earns 5% simple interest every year. She started the account with $650 and

has not been touched the account since.
Mathematics
1 answer:
rewona [7]1 year ago
6 0

Answer:

$780

Step-by-step explanation:

<u>Simple Interest Formula</u>

\boxed{\sf A = P(1 + rt)}

where:

  • A = Final amount.
  • P = Principal amount invested.
  • r = Interest rate (in decimal form).
  • t = Time (in years).

Given:

  • P = $650
  • r = 5% = 0.05
  • t = 4 years

<u>Substitute</u> the given values into the formula and solve for A:

\implies \sf A=650(1+0.05(4))

\implies \sf A=650(1+0.2)

\implies \sf A=650(1.2)

\implies \sf A=780

Therefore, the amount in the account now is $780.

Learn more about simple interest here:

brainly.com/question/28350785

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