Question

Camille has $52,220 in a savings account that earns 13% interest per year. The interest is not compounded. How much will she have in 4 years?

Answer 1

We have the following:

`P=p(1+r\cdot t)`

p = 52220

r = 0.13

t = 4

replacing:

`\begin{gathered} P=52220\cdot(1+0.13\cdot4) \\ P=79374.4 \end{gathered}`

Therefore, the answer is $79374.6