Suppose you started a savings account and put $70 in the bank and left it there for 1 year. Also assume you put no other money in that account. If the annual interest rate is R = 0.05 (5%), then at the end of the year you would have how much in your account at the end of the year? Group of answer choices A) $73.50 B) $70.50 C) none of the other options. D) $75 E) $72.80

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Suppose you started a savings account and put $70 in the bank and left it there for 1 year. Also assume you put no other money in that account. If the annual interest rate is R = 0.05 (5%), then at the end of the year you would have how much in your account at the end of the year?

Group of answer choices
A) $73.50
B) $70.50
C) none of the other options.
D) $75
E) $72.80
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