Question

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

Answer 1

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

Answer 2

603*.09=54.27

603+54.27= 657.27

Explanation: