xzaviermontalbo2 xzaviermontalbo2

24-03-2020
Mathematics

contestada

Sarah deposits $1,400 into a savings account. The account earns a simple interest rate of 5% per year. After the first year what interest does the account earn?

Respuesta :

sbraskie sbraskie

24-03-2020

Answer:

$70

Step-by-step explanation:

$1,400* 5%* 1 year= 1,400* 0.05* 1=7 0

Answer Link

bhavya2vemuri bhavya2vemuri

24-03-2020

Answer:

$70

Step-by-step explanation:

1) lets use the interest formula:

I=PRT

Where I=interest

P=principal(starting amount of 1,400)

R=rate(0.05)

T=time(1)

Lets plug in our values into the formula:

I=1,400*0.05*1

I=70

The account earns an interest of $70

Answer Link

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