Lindsey sold stationery to her family and her mother's friends shw deposited the $125 shw earned in a savings account. The accou
nt earns 5.18% interest annually. If she does not deposit or withdraw any money for 18 months how much will she have in her account
2 answers:
Your Answer will be: $134.71
Answer:
$134.71
Step-by-step explanation:
A = P(1 + rt)
A = Amount after t months or years
P = Principal or amount saved
r = interest rate = 5.18% = 0.0518
t = time.in years = 18 months
= 1 year and 6 month
= 1.5 year
A = $125( 1 + 0.0518 × 1.5)
A = $125 ( 1 + 0.0777)
A = $125(1.0777)
A = $134.71
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