Use the six steps in the "Blueprint for Problem Solving" to solve the following word problem. You may recognize the solution
1 answer:
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Answer:
$ 728
Step-by-step explanation:
Amount of Money Cody has = $700
Simple Interest = 4%
As it is know that interest is always given on annually basis so
Amount of profit he have in one year = Money he have right now * interest
=700 * 4%
=
= $ 28
After one year he will have = total money at that time + Profit
= 700 + 28
= $ 728