Question

Eileen earned $45 in annual interest from a savings account with a 3.5% annual interest rate. Assuming she made no deposits or withdrawals during the year, what is the balance in the account?

Answer 1

Balance = $1285.71

Explanation:

`3.5% xx x = $45`
`x=($45)/(3.5%)=($45)/0.035`
`x=$1285.71`