Welcome to Westonci.ca, where your questions are met with accurate answers from a community of experts and enthusiasts. Discover in-depth solutions to your questions from a wide range of experts on our user-friendly Q&A platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.
Sagot :
The account be worth in 7 months is 375.725 .
What is the amount in simple interest?
Amount (A) is the total money paid back at the end of the time period for which it was borrowed. The total amount formula in case of simple interest can also be written as: A = P(1 + RT)
Here, A = Total amount after the given time period.
Given that,
P = $350, R = 1.05%, T = 7 month
The simple interest equation uses "t" as years, but is just cycles, using an APR rate.
now, if we never mind "t" as years and just use it as an interest cycle, then we can say the rate is 1.05% and the period is 7 cycles.
A = P(1 + RT)
= 350(1+1.05%×7)
= 350(1+0.0105×7)
= 350(1+0.0735)
= 350×1.0735
A = $375.725
Hence, The account be worth in 7 months is 375.725 .
To learn more about simple interest from the given link:
https://brainly.com/question/25793394
#SPJ4
Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.
