Lori deposited $390 into a savings account. She earns 5.8 of interest each year. What will be her new balance after the first year?

label Mathematics
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schedule 1 Day
account_balance_wallet $5

Lori deposited $390 into a savings account. She earns 5.8 interest each year. What will be her new balance after the first year??  PLEASE HELP!

Oct 30th, 2015

Thank you for the opportunity to help you with your question!

Amount=Principle*Time* Interest

=390*5.8%*1

=22.62 (the total interest per year)

therefore the balance will be;

390+22.62

=$412.62

Please let me know if you need any clarification. I'm always happy to answer your questions.
Oct 30th, 2015

thank you

Oct 30th, 2015

welcome  you can always send me more question

Oct 30th, 2015

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