A principal amount of $365 is placed in a savings account with an annual rate of 2.08% simple interest for 6 years. Which formula would correctly determine the total account balance?
A principal amount of $365 is placed in a savings account with an annual rate of 2.08% simple interest for 6 years. Which formula would correctly determine the total account balance?
Chapter5: Decimals
Section5.1: Decimals
Problem 91E: How does your knowledge of money help you learn about decimals?
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A principal amount of $365 is placed in a savings account with an annual rate of 2.08% simple interest for 6 years. Which formula would correctly determine the total account balance?
![OA = (365)(0.208)(6)
OA = (365)(0.0208)(6)
O A = (365)(0.208)(6) + 365
O A = (365)(0.0208)(6) + 365](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5e820e77-3b9b-46e2-aa82-9c3bddc4b528%2Fbacf2eff-f819-4585-a710-80a9ee9610f0%2F2owe08_processed.jpeg&w=3840&q=75)
Transcribed Image Text:OA = (365)(0.208)(6)
OA = (365)(0.0208)(6)
O A = (365)(0.208)(6) + 365
O A = (365)(0.0208)(6) + 365
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