Ask Question
10 June, 22:52

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

+4
Answers (1)
  1. 11 June, 00:22
    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?
Find 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 you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers