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3 years ago

PLEASEEEE ASAP

Mathematics

1 answer:

Alexeev081 [22]3 years ago

7 0

Answer:

<u>The balance in dollars and cents in Mr. Jenkins’s account at the end of 4 years was $ 1,462.50</u>

Step-by-step explanation:

1. Let's review the information given to us to answer the question correctly:

Initial deposit = $ 1,250

Interest rate = 4.25% annual simple = 0.0425

Time of investment = 4 years

2. What was the balance in dollars and cents in Mr. Jenkins’s account at the end of 4 years?

Let's recall the simple interest formula, as follows:

A = P * (1 + rt), where:

A = final amount

P = initial principal balance

r = annual interest rate

t = time (in years)

Replacing with the values we know:

A = P * (1 + rt)

A = 1,250 * (1 + 4 * 0.0425)

A = 1,250 * 1.17

A = 1,462.50

<u>The balance in dollars and cents in Mr. Jenkins’s account at the end of 4 years was $ 1,462.50</u>

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Answer:

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Step-by-step explanation:

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3 years ago

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Step-by-step explanation:

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__________________________________________________________

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