Joseph invests money in an account paying a simple interest of 2.9% per year. If he invests $60 and no money will be added or re
moved from the investment, how much will he have in one year, in dollars and cents?
1 answer:
Hi there! I’m here to help you out with your question.
It costs Joseph 2.9% per year in interest.
This is a one step process, do 60 (money he invests) x .029 (interest) and you should get $1.74.
Add $1.74 + $60, and your answer is $61.74.
Thank you and I hope this helped you.
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