dylancbennett20 dylancbennett20

22-10-2021
Mathematics

contestada

An account pays 6% simple interest.
In year 1, the amount in the account
is $70. How much is in the account
in year 5? slum

Respuesta :

23-10-2021

Answer:

A (1 + .06) = 70 after 1 year

A = 70 / 1.06 = 66.04

Apparently 66.04 was originally in the account

A (1 + .06)^4 should be in the account after 4 years

66.04 (1.06)^4 = 83.37

83.37 will be in the account during year 5

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