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43 votes
43 votes
Derrick's grandparents give him $75 for his birthday. Derrick puts the money into his savings account which has $1,458. His account has an interest rate of 5%. If Derrick leaves the money in his account and does not withdraw money, how much interest will he have after 1 year?

User Omar Ali
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2 Answers

20 votes
20 votes
The answer on top is the right answer
User Edhar Dowbak
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17 votes
17 votes

Answer:

$1609.65

Explanation:

1458+75=1533

I= Prt

I=1533 (.05) (1)=76.65

B= I+P

B=1533+76.65=$1609.65

User Ashraf Alam
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3.2k points