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Patricia deposited $612.40 in a savings account that earns 3.2% simple interest. What is Patricia's account balance after thirteen years?
$254.76
$867.16
$632.00
$2,547.58

Respuesta :

samuelonum1

Answer:

Patricia's account balance after thirteen years is $867.16

Step-by-step explanation:

This problem is on simple interest calculation

we know that the formula for simple interest is given as

A= P(1+rt)

Given that

P= $612.40

r= 3.2%= 0.032

t= 13 years

Applying the formula we have

A= 612.40(1+0.032*13)

A= 612.40(1+0.416)

A= 612.40(1.416)

A= 867.1584

A= $867.16

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