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Benjamin invests $400 in a savings account that earns 5% interest each year.
Which expression gives the balance in the account after 3 years?

Respuesta :

Answer: $460

Explanation:

To solve the question, we need to calculate the interest generated firstly and this will be:

= Principal × Rate × Time

= $400 × 5% × 3

= $400 × 0.05 × 3

= $60

The balance in the account after 3 years will be:

= Principal + Interest

= $400 + $60

= $460

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