Tracy deposited $59 into a bank account that earned 3.5% simple interest each year. No money was deposited into or withdrawn from the account.

How much money was in the account after 112 years?

Round your answer to the nearest cent. Which contributions

Answer

Find out the how much money was in the account after 1\frac{1}{2} years.

To prove

Formula

Simple\ interest = \frac{Principle\times Rate\times time}{100}

As given

Tracy deposited $59 into a bank account that earned 3.5% simple interest each year.

Principle = $59

Rate = 3.5 %

Time = 1\frac{1}{2}

i.e

Time = \frac{3}{2}

Time = 1.5 years

Put all the values in the equation

Simple\ interest = \frac{59\times 3.5\times 1.5}{100}

                                =  \frac{309.75}{100}[/tex]

                               = $3.1(approx)

Amount in the account = Principle + Simple interest

                                     = $59 + $ 3.1

                                     = $ 62.1

1 Dollar = 100 cent

Now convert $62.1 into cent.

= 62.1 × 100

= 6210 cent

Therefore the money in the account is 6210 cent .

step-by-step explanation:

we are given

since, we have to isolate x on anyone side

so, we can move all x terms on one side

subtract both sides by 2x

add both sides by 9

divide both sides by 4

we get

the answer is the third / last answer

step-by-step explanation: