hannahlovescats4life hannahlovescats4life

12-12-2020
Mathematics

contestada

Find the balance of the account.

$1600 at 5% for 1 year

This is simple interest btw. I also need a explanation too

Respuesta :

stud181573 stud181573

12-12-2020

Answer:

$1680

Step-by-step explanation:

I = 5%

P = $1600

period = 1 year

$1600 + 15% = $1680

Answer Link

oscar236 oscar236

12-12-2020

Answer:

$1680.

Step-by-step explanation:

The interest for 1 year = 1600 * 5%

= 1600 * 0.05

= $80.

So the new balance = old balance + interest

= 1600 + 80

= $1680.

Answer Link

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