A gym employee is paid monthly. After working for 3 months,he had earned $4,500. To determine how much money he will make over a
six-month period,he created the table below.
1 answer:
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Answer:
After 10 years, she will has $96 in her bank.
Step-by-step explanation:
It is given that Andrea's saving account is $80 and earns 2% interest per year as a <em>S</em><em>i</em><em>m</em><em>p</em><em>l</em><em>e</em><em> </em><em>I</em><em>n</em><em>t</em><em>e</em><em>r</em><em>e</em><em>s</em><em>t</em><em> </em>(Not Compounded). Using simple interest formula, Interest = (P×R×T)/100 where <em>P</em> is the <em>principal</em>, <em>R</em> is the <em>interest rate</em> and <em>T</em> is <em>number of years</em><em> </em>:
P = $80
R = 2%
T = 10 years
It is given that the interest amount is $16. So the total amount she has after 10 years in the bank is $96 :
interest amount = $16
principal = $80
total = $16 + $80
= $96