Answer:
$406
Step-by-step explanation:
The amount of interest that Lorenzo's account earns is given by ...
I = Prt
where P is the principal amount ($400), r is the annual rate (1.5%) and t is the number of years (1).
Lorenzo's interest is ...
I = $400·0.015·1 = $6.00
Then the balance in Lorenzo's account at the end of one year is ...
$400 +6 = $406.00
Can you retype whatever you’re asking in this please?
3 x 10 (with a small 6 at the top right of the ten). Hope this helped
