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14 October, 14:24

Malory deposited $841.72 in a savings account that earns 1.4% simple interest. What is Malory's account balance after eleven years?

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  1. 14 October, 15:27
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    The answer for this question is 971.34488
  2. 14 October, 15:39
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    A = P (1 + rt)

    P=841.72

    r = 1.4% = 0.014

    t = 11 years

    A = 841.72 * (1+0.014 x 11) = 971.34

    balance = $971.34
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