Answer:
A: $958.50
Step-by-step explanation:
Since we are solving how much money in total he will receive in one year, we know that annually means once a year. Therefore to solve this, we need to divide 6.5 by 100 since the way to turn a decimal into a percent is to multiply by 100, and we are trying to make it a decimal.
6.5 ÷ 100 = 0.065.
Next, we need to multiply 0.065 by 900. This is because we originally need to divide the denominator (900) from the numerator (X).
0.065 x 900 = 58.5 = $58.50
Now that we know 6.5% is equivalent to $58.50, we just need to add $900 and $58.50.
$900 + $58.50 = $958.50
The solution to your math problem is A: $958.50. Lan will have $958.50 by the end of one year.
