Bonnie deposits $70.00 into a new savings account. *The account earns 4.5% simple interest per year. * No money is added or remo ved from the savings account for 3 years. What is the total amount of money in her savings account at the end of the 3 years? A. $9.45
B. $79.45
C. $94.50
D. $164.50
2 answers:
Answer with Step-by-step explanation:
Amount in Bonnie's account initially=$ 70
The formula for simple interest=
Where P is the principal amount
R is rate of interest
and T is the time
Here, P=70,R=4.5,T=3
Interest=
= $ 9.45
Hence, Total amount in his savings account after 3 years= $(70+9.45)
= $ 79.45
Hence, correct option is:
B. $ 79.45
Answer:
The answer is C. $94.50
Step-by-step explanation:
Formula:I=PRT
I=PRT
I=4.5*70.00*3
I=0.45*70.00*3
I=31.5*3
I=94.50
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