Bonnie deposits 70.00 into her savings. There is 4.5 simple interest. She didn't change the amount for her three years. What is the amount of money after?

If the given 4.5 percent interest rate is a yearly rate then according to the information in the question, we can calculate Bonnie's money at the end of the three year period as:

The initial amount x interest rate x time = 70 x 0.045 x 3 = $9.45

So the amount of money after the three year period comes up to $79.45 for Bonnie.

I hope this answer helps.

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micahdisu micahdisu · Answer 2 · 2020-04-14T02:26:40+02:00

Answer: She would have $79.45

Step-by-step explanation: Since the question states that the amount gained is a simple interest, we shall apply e formula for simple interest which is;

Interest = PRT/100

Where P is Principal amount initially invested (70), R is the rate of interest earned (4.5%) and T is the time the money was left to yield interest (3).

Substituting for known values we now have,

Interest = (70 x 4.5 x 3)/100

Interest = 210 x 0.045

Interest = 9.45

Her account has earned a total interest of $9.45, therefore the amount of money after 3 years would be,

Total amount = Principal + Interest

Total amount = 70 + 9.45

Total amount = 79.45