Question

Which option is the correct answer for the following statement: "Chloe invested a certain amount of money earning 10%. Chloe will have __________ after one year."?

A. Chloe will have 10% more money after one year.
B. Chloe will have the same amount of money after one year.
C. Chloe will have less money after one year.
D. Chloe will have 110% of the initial amount after one year.

Answer 1

Chloe will have 110% of the initial amount after one year.

Step-by-step explanation:

To answer this question, we need to understand how interest works. When Chloe invests a certain amount of money earning 10%, she will have more money after one year. The correct option is D. Chloe will have 110% of the initial amount after one year.

For example, if Chloe invests $100, she will have $110 after one year. This is because 110% of $100 is $110.