Sophia borrowed $945 from a bank at a rate of 7.25% for 48 months. How much money is in her account after 48 months?
2 answers:
$274.05
hopefully this can help you
Answer: $274.05
Step-by-step explanation
Ok so, use the formula I=Prt
Meaning principal, rate, and time.
First, turn the % into 100...
Or just move the decimal two times to the right.
= .0725
Next, turn 48 months into years. 12 ÷ 4 = 48.
= 4 years
And finally, multiply ♀
You can multiple them in the order of the formula.
945× 0.0725 × 4
Giving you the answer of, $274.05.
Hopefully this helps ♀
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