If you put $603 in a savings account that pays 9% for one year what is the amount of money that you will have at the end of the one year

Question

asked May 21, 2021 24.3k views

2 Answers

Yam · Answer 1 · 2021-05-23T08:05:05+0000

You will have $657.27
I used equation A=P(1+rt)
(P=money in account, r=percent, t=time in years)
9% is converted to 0.09
A=603(1+0.09*1)
A=$657.27