Question

Elizabeth invests money in an account paying a simple interest of 6.7% per year. If she invests $170 and no money will be added or removed from the investment, how much will she have in one year, in dollars and cents?

Answer 1

The amount that will be in Elizabeth's account after 1 year will be gotten as $181.39.

The simple interest based on the information given will be:

= PRT / 100

= ($170 × 6.7 × 1)/100

= $1139/100

= $11.39

Therefore, the amount that will be in the account after 1 year will be:

= Principal + Interest

= $170 + $11.39

= $181.39

Read related link on:

https://brainly.com/question/17106123