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jayden opens a savings account with $100.00. His account earns 4% simple interest annually. How much money will be in his account one year later if he makes do deposits or withdrawals?
A. $96.00
B. $100.00
C. $104.00
D. $148.00

Respuesta :

princesskenny1
I believe the answer is A, $96.00. I hope this helps!

Jayden would be able to withdraw $104 after one year from his savings account.

The balance in a savings account is $100 that would earn the interest at 4% annually.

The total interest after one year would be computed as follows:

[tex]I=100 * 0.04 * 1\\=4[/tex]

Here, I is the interest received, that is, $4.

Thus, the interest amount that is $4 would be added to the principal deposited amount in the account would give the total withdrawn amount as:

[tex]100+4\\=104[/tex]

Hence, the total deposit along with interest will be $104.

Learn more about the rate of interest here:

https://brainly.com/question/15364757

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