Jul 16 Question:
Bonnie deposits $70.00 into a new savings account.
- The account earns 4.5% simple interest per year.
- No money is added or removed from the savings account for 3 years.
What is the total amount of money in her savings account at the end of the 3 years?
The answer is $79.45. For simple interest, A = P + Prt. 79.45 = 70 + 70(0.045)(3).
New Jersey Student Learning Standard: NJSLS 7.RP.A.3
Grade 7 Mathematics Reference Sheet
