Question

Lindsey sold stationery to her family and her mother's friends shw deposited the $125 shw earned in a savings account. The account earns 5.18% interest annually. If she does not deposit or withdraw any money for 18 months how much will she have in her account

Answer 1

$134.71

Explanation:

A = P(1 + rt)

A = Amount after t months or years

P = Principal or amount saved

r = interest rate = 5.18% = 0.0518

t = time.in years = 18 months

= 1 year and 6 month

= 1.5 year

A = $125( 1 + 0.0518 × 1.5)

A = $125 ( 1 + 0.0777)

A = $125(1.0777)

A = $134.71

Answer 2

Your Answer will be: $134.71