Question

Jada has $70 in a savings account that earns 5% annually. The interest is not compounded. How much will she have in 1 year?

Answer 1

For this case we can use the following formula:

`A=P(1+rt)`

For this case we have:

P= 70

r= 0.05

t= 1

And replacing we got:

`A=70(1+0.05\cdot1)=73.5`

Then the final answer for this case is 73.5