Question

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Enrique deposited $4,700 into an account. He made no additional withdrawals or deposits. Enrique earned 1.65% annual simple interest on the money in the account. What was the balance in his account at the end of 4.5 years? Enter the amount in the account in the box. $

Answer 1

The total amount in the account is 5,048.97 but the amount gained is 348.98.

Explanation:

I=prt. I =(4,700)(0.0165)(4.5) this gets you the amount gained.