At the beginning of year 1, Gracie invest $350 at annual simple interest rate of 4%. She makes no deposits to or withdrawals fro

Question

Juli2301 [7.4K]

3 years ago

8

At the beginning of year 1, Gracie invest $350 at annual simple interest rate of 4%. She makes no deposits to or withdrawals fro

m the account

Mathematics

2 answers:

ella [17] · Answer 1 · 2022-06-29T23:05:26+03:00

ella [17]3 years ago

7 0

Answer: A(n)=350+(n-1)(0.04•350);$504.00

Step-by-step explanation:

Elanso [62] · Answer 2 · 2022-06-29T20:59:18+03:00

Elanso [62]3 years ago

5 0

I guess you want to know the total amount after one year. If so, the interest yielded after one year is 350 x 4% = $14 and her new capital becomes
350 (initial capital) + 14 (interest over 1 year) = 350+14 = $364