Ask Question
4 August, 17:18

An account pays 8% per year simple interest. In year 1, the amount in the account is $850. How much is in the account in year 6? A. $1190.00 B. $1130.00 C. $1209.85 D. $1248.93

+2
Answers (1)
  1. 4 August, 18:45
    0
    In year 1 : $850

    In year 6 the amount is:

    $850 * 1.08^5 = $850 * 1.4693 = $1248.93

    Answer:

    D) $1248.93
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “An account pays 8% per year simple interest. In year 1, the amount in the account is $850. How much is in the account in year 6? A. ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers