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Nutka1998 [239]
2 years ago
14

Mr. Jansen opened a savings account with an initial deposit of $720 and will not make any additional deposits or withdrawals. Th

e account earns 1% simple interest. What is the total amount that Mr. Jansen will have in his account at the end of 3 years?
a. $741.60

b. $ 21.60

c.$936.00

d. $784.80
Mathematics
2 answers:
AveGali [126]2 years ago
8 0

Answer:

A: $741.60

Step-by-step explanation:

If the account earns 1% interest, then we will do the following:

[YEAR 1] $720 x 1.01 = $727.2

[YEAR 2] $727.2 x 1.01 = $734.5

[YEAR 3] $743.5 x 1.01 = $741.60

<em />

<em>Final Answer: $741.60</em>

konstantin123 [22]2 years ago
3 0

Answer:

a $741.60

Step-by-step explanation:

720 × 1.03( add the one on so we can make it a one step problem) = 741.6, meaning, the answer is a $741.60

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