charlotte puts $650 into a savings account that earns 6% simple interest annually. what will her account…
charlotte puts $650 into a savings account that earns 6% simple interest annually. what will her account balance be after 1 year? interest = $39 balance = $?
Answer
Explanation:
Step1: Recall balance - interest formula
The account balance $A$ is the sum of the principal $P$ and the interest $I$. That is $A = P+I$.
Step2: Identify principal and interest values
The principal $P = 650$ dollars and the interest $I = 39$ dollars.
Step3: Calculate the account balance
$A=650 + 39=689$ dollars.
Answer:
$689$