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Jayden invests money in an account paying a simple interest of 7.6% per year. If heinvests $100 and no money will be added or removed from the investment, howmuch will he have in one year, in dollars and cents?

Respuesta :

Given data:

The given rate of interest is r=7.6%.

The given principal amount is P=$100.

The expression for the final amount after 1 year is,

[tex]\begin{gathered} A=P+\frac{P\times r\times t}{100} \\ =100+\frac{100\times7.6\times1}{100} \\ =107.6 \end{gathered}[/tex]

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