Camila invests money in an account paying a simple interest of 3.4% per year. If she invests $50 and no money will be added or removed from

Question

Camila invests money in an account paying a simple interest of 3.4% per year. If she invests $50 and no money will be added or removed from the investment, how much will she have in one year, in dollars and cents?

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Mít Mít 5 months 2021-08-24T22:11:15+00:00 2 Answers 1 views 0

Answers ( )

    0
    2021-08-24T22:12:54+00:00

    After investing $50 and waiting 1 year she would have gained $1.70.

    0
    2021-08-24T22:13:08+00:00

    Answer:

    51.70

    Step-by-step explanation:

    2 ways to calculate

    50 x 1.034=51.70

    or

    50 x .034=1.70 interest

                 1.70 interest

    Plus    50.00 principal

    equals 51.70

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