Answered

Find the best answers to your questions at Westonci.ca, where experts and enthusiasts provide accurate, reliable information. Get expert answers to your questions quickly and accurately from our dedicated community of professionals. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

Alexa opens a savings account with a starting balance of $10,000. She will not make any additional deposits or withdrawals. The account earns 5% simple interest. What is the total amount that Alexa will have in her account at the end of 4 years?

Sagot :

Polyblock

Answer:

$12,000

Step-by-step explanation:

Use the simple interest formula: P = A(1 + rt)

P = final balance (?)

A = starting balance (10,000)

r = interest rate (0.05)

t = years (4)

P = 10,000(1 + 0.05 · 4)

P = 10,000(1 + 0.2)

P = 10,000(1.2)

P = 12,000

Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.