Question

2. Angela deposited $600 into an account paying a simple interest rate of 3.6% for 4.5 years. How

much interest did she earn? What was the balance of her account after the 4.5 years (assuming she made no deposits of withdrawals during the time)

Answer 1

Explanation:

to find out how much Angela she would have in the bank,

(600*3.6*1)100=21.60 she gains in one year

6 months 21.60/2=10.80

in 4.5 years

(21.60*4)+10.80=86.40+10.80=97.20 interest

the balance=600+97.20=697.20