Tracy deposited $59 into a bank account that earned 3.5% simple interest each year.

If no money was deposited into or withdrawn from the account, how much money was in the account after 112 years?

Round your answer to the nearest cent.

Enter your answer in the box.

$

/second questoin Vanessa deposited money into a bank account that earned 1.25% simple interest each year. After 12 year, she had earned $5.00 in interest on the account.

If no other money was deposited into or withdrawn from the account, how much was her initial deposit?

Enter your answer in the box.

$

Question

Kylie Allen

Mathematics

22 November, 07:25

Tracy deposited $59 into a bank account that earned 3.5% simple interest each year.

If no money was deposited into or withdrawn from the account, how much money was in the account after 112 years?

Round your answer to the nearest cent.

Enter your answer in the box.

$

/second questoin Vanessa deposited money into a bank account that earned 1.25% simple interest each year. After 12 year, she had earned $5.00 in interest on the account.

If no other money was deposited into or withdrawn from the account, how much was her initial deposit?

Enter your answer in the box.

$

+1

Answers (1)

Know the Answer?

Alvin Kim · Answer 1

Step-by-step explanation:

1) Tracy:

P = $ 59; r = 3.5%; T = 12 years

SI = PrT/100

= 59 * 3.5 * 12 / 100

= $24.78

Amount Tracy that will be after 12 years in her account = $ 59 + $24.78

= $83.78