. Mr. Jenkins deposited $1,250 into an account. He made no additional
deposits or withdrawals. Mr. Jenkins earned 4.25% annual simple interest
on the money in the account.
What was the balance in dollars and cents in Mr. Jenkins account at the
end of 4 years?
Record your answer on the grid.
Be sure to use the correct place value.

Question

01-04-2021
Mathematics

Answered

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. Mr. Jenkins deposited $1,250 into an account. He made no additional
deposits or withdrawals. Mr. Jenkins earned 4.25% annual simple interest
on the money in the account.
What was the balance in dollars and cents in Mr. Jenkins account at the
end of 4 years?
Record your answer on the grid.
Be sure to use the correct place value.

Sagot :

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Possiblyrabididn Possiblyrabididn · Answer 1 · 2021-04-01T13:49:29-04:00

Possiblyrabididn Possiblyrabididn

01-04-2021

Answer:

$1,462.50

Step-by-step explanation:

To find the percentage, multiply 1,250 by 0.0425, giving us 53.125. Multiply this by the 4 years, giving us a total of 212.5. Add 212.5 and 1,250, leaving us with his total, $1,462.50

Hope this helps!

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