Bonnie deposits $70.00 into a new savings account. The account earns 4.5% simple interest per year. No money is added or removed

Question

4 years ago

10

Bonnie deposits $70.00 into a new savings account. The account earns 4.5% simple interest per year. No money is added or removed

form the savings account for 3 years. What is the total amount of money in her savings account at the end of the 3 years

Mathematics

2 answers:

Vikentia [17] · Answer 1 · 2021-12-25T14:06:44+03:00

The total amount of money would be $79.45 because if you do the equation:
interest=simple interest x time x principal(amount you originally put in) you will get a total interest of $9.45. if you want the total that is in your account, you will need to add the total amount of interest to your principal amount or the amount you first put in which is 70.