Answer:
$5,275
Explanation:
[tex]A = P (1 + r)^n[/tex]
r = (1 + 0.055)
[tex]= 5000 ( 1 + 0.055)^1\\ = 5275[/tex]
$5275
Answer:
Value of money in her saving account in one year = $5275.
Explanation:
As we know that :
P= $5000
i= 5.5%
n=number of years
Simple interest = Principal * interest rate * number of years
= P * i * n
= 5000 * .055 * 1
Simple interest = $ 275
Total = Principle + interest
= $5000+275
= $5275
