Question

Owen deposited $1230.90 in a savings account that earns 1.9% simple interest. What will Owens account balance in 4 months?

Answer 1

the answer is b

Explanation:

Answer 2

$1238.70

Explanation:

The appropriate formula is ...

A = P(1 + rt) . . . . where P is the principal, r is the rate, and t is the time period

Your values are ...

P = $1230.90

r = 0.019

t = 4/12 = 1/3

Then the balance will be ...

A = $1230.90·(1 + 0.019/3) = $1238.70