Question

Bonnie deposits $70.00 into a new savings account. The account earns 45 % simple interest per year , s added or removed from the savings account for 3 years What is the total amount of money in her savings account at the end of the 3 years?

Answer 1

its 4.5 not 45

Explanation:

Answer 2

`\$164.5`

Explanation:

Bonnie deposits $70.00 into a new savings account.

The account earns 45% simple interest per year.

She neither added or removed from the savings account for 3 years.

We know that,

`i=(P\cdot r\cdot r)/(100)`

here,

i = interest,

P = principal = $70,

r = rate of interest = 45%,

t = time = 3 years,

Putting the values,

`i=(70\cdot 45\cdot 3)/(100)=\$94.5`

So the total amount will be,

`=\text{Principal}+\text{Interest}`

`=70+94.5`

`=\$164.5`