Sophia has $91,000 in a savings account that earns 7% annually. The interest is not compounded. To the nearest cent, how much wi
ll she have in 9 months
1 answer:
Answer:
$95777.5
Step-by-step explanation:
change 7% to decimal = .07
91,000 * .07 = 5370 (annual interest)
5370 / 12 = 530.83 (monthly interest)
530.83 * 9 = 4777.5 (9 months interest)
91,000 + 4777.5 = 95777.5 (initial + 9 months interest)
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