ZafiraD645241 ZafiraD645241

29-10-2022
Mathematics

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Jada has $70 in a savings account that earns 5% annually. The interest is not compounded. How much will she have in 1 year?

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MarignyX566122 MarignyX566122

29-10-2022

Solution

For this case we can use the following formula:

[tex]A=P(1+rt)[/tex]

For this case we have:

P= 70

r= 0.05

t= 1

And replacing we got:

[tex]A=70(1+0.05\cdot1)=73.5[/tex]

Then the final answer for this case is 73.5

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