Henry received $500 for his birthday which he intends to invest in an account that pays simple interest at the rate of 12% per y
ear. How much will be in the account
1 answer:
Answer:
$560
Step-by-step explanation:
Given that :
Principal, P= $500
Interest rate, r = 12% per year
Amount in account after 1 year
Time = 1 year
Using the relation :
A = P(1 + rt)
A = final amount in account
A = $500(1 + 0.12(1))
A = $500(1 + 0.12)
A = $500(1.12)
A = $560
You might be interested in
Answer:
Richhhh!!! Thanks for the points!!
Step-by-step explanation:
Answer: B
Step-by-step explanation:
Can you show the whole question
Answer:
pray to god
Step-by-step explanation:
Answer: what i would do is add a zero
Step-by-step explanation:
hope that help u have a wonderful day