By the end of the summer, Sarah will earn $420 doing yard work. If she deposits this amount in a savings account paying 3.5% sim

Question

RideAnS [48]

4 years ago

8

By the end of the summer, Sarah will earn $420 doing yard work. If she deposits this amount in a savings account paying 3.5% sim

ple annual interest, what will her balance be at the end of 5 years?

Mathematics

2 answers:

spin [16.1K] · Answer 1 · 2022-01-30T15:25:42+03:00

Okay, I'm pretty sure the equation for this is B=420(1+.035)^5. (I'm pretty sure that formula would be used here.) Just type that into a calculator (I lack one that works in this moment) and I think you should have your answer. If that's the wrong equation, then I'm sorry, I won't be able to help:P Hope it helps though ^-^

valina [46] · Answer 2 · 2022-01-30T13:01:38+03:00

valina [46]4 years ago

7 0

If you use the equation for interest, you get $493.50