Answered

IDNLearn.com: Your trusted source for finding accurate answers. Get comprehensive answers to all your questions from our network of experienced experts.

Sophia borrowed $945 from a bank at a rate of 7.25% for 48 months. How much money is in her account after 48 months?

Sagot :

RolaMolaidn
Answer: $274.05

Step-by-step explanation
Ok so, use the formula I=Prt
Meaning principal, rate, and time.

First, turn the % into 100...
Or just move the decimal two times to the right.
= .0725

Next, turn 48 months into years. 12 ÷ 4 = 48.

= 4 years

And finally, multiply ‍♀
You can multiple them in the order of the formula.
945× 0.0725 × 4

Giving you the answer of, $274.05.

Hopefully this helps ‍♀
$274.05
hopefully this can help you
Your presence in our community is highly appreciated. Keep sharing your insights and solutions. Together, we can build a rich and valuable knowledge resource for everyone. Discover the answers you need at IDNLearn.com. Thanks for visiting, and come back soon for more valuable insights.