Register
Nicole deposits $2,136 in a savings account paying 5.36% interest. To the nearest dollar, how much money does Nicole have in total after nine years?
226k views
4 votes
Nicole deposits $2,136 in a savings account paying 5.36% interest. To the nearest dollar, how much money does Nicole have in total after nine years?

User Adam Vandenberg
by
7.7k points

2 Answers

4 votes
we know that

The simple interest formula is equal to



where

A is the Final Investment Value

P is the Principal amount of money to be invested

r is the rate of interest
t is Number of Time Periods

in this problem we have



substitute in the formula above





Round to the nearest dollar

therefore
the answer is the option D
User AvisSiva
by
7.4k points
3 votes
The answer is $3,166 hope you pass
User Barmaley
by
7.5k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.9m questions

11.6m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!