Question

I don’t understand can someone explain

Natalia opens a savings account was $60 that earns 2.8% interest per year not compounded. How much money, to the nearest penny, all Natalia have in 3 years?

Answer 1

$65.05

Explanation:

not compounded means the interest will be on top of the total savings which haven't change (which is 60), since the interest is 2.8% a year, so in 3 years it will be 2.8 * 3

2.8% = (60 * 2.8) / 100

2.8% = $1.68

1.68 * 3 = 5.04

total money after 3 years = 60 + 5.04 = $65.04

to the nearest penny =~ 65.05 (sixty five dollars and five cents)

or just $65 maybe, I'm not sure what a 'penny' is supposed to be