Question

Cynthia has earned $1200. She wants to spend $300 and put the rest into a savings

account that earns 5% simple interest. Assuming she makes no additional deposits or
withdrawals what will be the value of Cynthia's account after 48 months?
A) $180
B)$240
C)$720
D)$1080

Answer 1

Incomplete problem, read the step-by-step.

Explanation:

$1200-$300=$900

5% of $900 is $45

You didn't say if the 5% is per month or per year, if you want more help, comment on this answer the per year/whatever/month and then I'll help you further into this word problem.

Hope this helped! :)