26Sophiyachudal 26Sophiyachudal

17-11-2020
Mathematics

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Sandra has $60 in a savings account. The interest rate is 5%, compounded annually.

To the nearest cent, how much interest will she earn in 1 year?

Respuesta :

17-11-2020

Answer:

$3 or 300 cents.

Step-by-step explanation:

She has 60 dollars in the savings account, and the interest rate is 5%, so you do 60*1.05 and get 63.

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