01-04-2020
Mathematics

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Rachel has 31,672 in a savings account that earns 5% interest per year. The only interest is not compounded. To the nearest cent, how much will she earn in 1 year?

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01-04-2020

Answer:

$1583.60 in interest (i), in addition to her savings (s) of $31,672.00

$33,255.60 total (t) after one year.

Step-by-step explanation:

$1583.60(i)(5%)+$31,672.00(s)= $33,255.60(t)

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