Answered

Looking for reliable answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

Sophia borrowed $945 from a bank at a rate of 7.25% for 48 months. How much money is in her account after 48 months?

Sagot :

RolaMola
Answer: $274.05

Step-by-step explanation
Ok so, use the formula I=Prt
Meaning principal, rate, and time.

First, turn the % into 100...
Or just move the decimal two times to the right.
= .0725

Next, turn 48 months into years. 12 ÷ 4 = 48.

= 4 years

And finally, multiply ‍♀
You can multiple them in the order of the formula.
945× 0.0725 × 4

Giving you the answer of, $274.05.

Hopefully this helps ‍♀
$274.05
hopefully this can help you
Thanks for stopping by. We are committed to providing the best answers for all your questions. See you again soon. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.