Question

help Liam deposited $1,859.69 in a savings account that earns 2.4% simple interest. What will Liam’s account balance be in 9 months?

Answer 1

what formula should I use A=P(1+r/n)^nt

Answer 2

"....2.4% simple interest " ==> I = P r t

Answer 3

so 1859.69(0.024)(9)

Answer 4

1859.69(0.216)

Answer 5

is 401.69304 and rounded would be 401.70

Answer 6

t = .75

Answer 7

1859.69(0.024)(.75) so 33.47442

Answer 8

:)

Answer 9

ok what am I doing wrong?

Answer 10

33.47442 ( correct)

Answer 11

No I am doing something wrong because my answer choices are 1,859.69

$1,893.16

$1,904.32

$2,261.38

Answer 12

Maybe I am using wrong formula

Answer 13

B = $1,859.69 + 33.47442 = .....

Answer 14

1893.16

Answer 15

all you do is key into the calculator

Answer 16

thanks. This is all confusing to me. I have examples in my note book but whenI follow them I get something totally different

Answer 17

I'm glad it works out :)

Answer 18

2.4% is yearly, so what you wanna do is 1859.69 + 1859.69(0.024/12)(9) = 1893.16