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24-04-2021
Mathematics

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Sophia has $91,000 in a savings account that earns 7% annually. The interest is not compounded. To the nearest cent, how much will she have in 9 months

Respuesta :

24-04-2021

Answer:

$95777.5

Step-by-step explanation:

change 7% to decimal = .07

91,000 * .07 = 5370 (annual interest)

5370 / 12 = 530.83 (monthly interest)

530.83 * 9 = 4777.5 (9 months interest)

91,000 + 4777.5 = 95777.5 (initial + 9 months interest)

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