Question

. Mr. Jenkins deposited $1,250 into an account. He made no additional

deposits or withdrawals. Mr. Jenkins earned 4.25% annual simple interest
on the money in the account.
What was the balance in dollars and cents in Mr. Jenkins account at the
end of 4 years?
Record your answer on the grid.
Be sure to use the correct place value.

Answer 1

$1,462.50

Explanation:

To find the percentage, multiply 1,250 by 0.0425, giving us 53.125. Multiply this by the 4 years, giving us a total of 212.5. Add 212.5 and 1,250, leaving us with his total, $1,462.50

Hope this helps!