Madison invests money in an account paying a simple interest of 3.2% per year. If she invests 160 and no money will be added or removed from the investment, how much will she have in one year, in dollars and cents?

Solución

Solución

Amount : 165.12

Pasos de solución

Translate the problem into an equation:

A = 160 (1 + 0.032 \cdot 1)

160 (1 + 0.032 \cdot 1) = 165.12

Amount : 165.12

Ejemplos populares

Chase bought a tramporecta priced at 182.50. Shipping and handling cost an additional 30% of the price. What was the total cost of the tramporecta, including shipping and handling?Khalil puts 300.00 into an account to use for school expenses. The account earns 10% interest, compounded monthly. How much will be in the account after 10 years?This year, Benny is 12 years old. His brother, David, is 21 years old. What percent of Benny's age is David's age? Use a visual modal to show your work.Matthew opened a savings account and deposited 200.00. The account earns 15% interest, compounded annually. If he wants to use the money to buy a new bicycle in 3 years, how much will he be able to spend on the bike?Carl placed 3600 in a savings account which compounds interest annually at a rate of 1.5%. How much will he have in the account after 6 years?