jaquanpakeera jaquanpakeera

01-05-2020
Mathematics

contestada

Mackenzie has $70 in a savings account. The interest rate is 5%, compounded annually.

To the nearest cent, how much will she have in 1 year?

Respuesta :

danilobabaglio danilobabaglio

01-05-2020

Answer:

She will have $73.5 in 1 year

Step-by-step explanation:

She has $70 and the interest rate is 5% so we need to add 5% to the initial value

x = $70 + $70 * 5%

5% = 5/100

x = $70 + $70 * 5/100

x = $70 + $3.5

x = $73.5

She will have $73.5 in 1 year

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