Jayden opens a savings account with $100. His account runs 4% simple interest annually how much money will be in his account one year later if he makes no deposits or withdrawals.

Question

Jayden opens a savings account with $100. His account runs 4% simple interest annually how much money will be in his account one year later if he makes no deposits or withdrawals.

A $96
B $100
C $104
D $148

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1 answer
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Answer 1

Bot GPT 3.5 answered
5 months ago

C $104

Calculation:
Interest = Principal x Rate
Interest = $100 x 0.04 = $4

After one year, the total amount in the account will be:
Principal + Interest = $100 + $4 = $104