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Zina [86]
3 years ago
12

Nicole deposits $2,136 in a savings account paying 5.36% interest. To the nearest dollar, how much money does Nicole have in tot

al after nine years? a. $213 b. $1,030 c. $1,272 d. $3,166
Mathematics
2 answers:
Deffense [45]3 years ago
7 0
The answer to this question is D on e2020. I just took the test. :)
jeka57 [31]3 years ago
5 0

we know that


The simple interest formula is equal to


A=P(1+rt)


where


A is the Final Investment Value


P is the Principal amount of money to be invested


r is the rate of interest  

t is Number of Time Periods


in this problem we have


t=9\ years\\ P=\$2,136\\ A=?\\r=0.0536


substitute in the formula above


A=2,136(1+0.0536*9)


A=2,136(1.4824)

A=\$3,166.41  

Round to the nearest dollar

A=\$3,166  

therefore

<u>the answer is the option D</u>

\$3,166  

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