A. $5.25 B. $6.15 C. $7.00 D. $9.30
2 answers:
You might be interested in
Answer:
At the end of the year, Marc will have 1.10 times the amount invested
Step-by-step explanation:
Let
x -----> the amount that Marc wishes to invested
Remember that
At the end of the year the amount of money will be the amount invested multiplied by 1.10
so
1.10x
therefore
At the end of the year, Marc will have 1.10 times the amount invested
<em>Alternative Method</em>
we know that
The simple interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
in this problem we have
substitute in the formula