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mannonymous741

Answer:

Step-by-step explanation:

Given Data:

Starting Balance: $100         Annual Rate: 4% = 4/100 = 0.04

Time: 12 years =                      

The Simple Terms going to be used here:

I:  Amount of money you will make in interest. This shouldn't be confuse with the interest rate, r.  

r: It is the interest rate, And expressed as a percentage. we will always need to convert this number into a decimal by  dividing it by 100. So, for example  5% becomes 0.05.

t:  It is time in terms of years. I-e, a year will become 12 months.

p: It is the principal. That is how much you deposited in the bank or take from it.

Now Using The formula for the Solution:

I = p * r * t

I = 100*0.04*12

I = $48

Hence The amount left with all the sum will be

A total of: $100 + $48 = $148

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