Casey has $120 in a saving account that earns 10% simple interest per year. the interest is not compounded. how much money will she have in 1 year? plz show work and explain.
a.$ 100
b. $122
c. $ 132
d. $144

The correct answer is C. $132

Step-by-step explanation:

Principal = $120

Simple Interest Rate = 10%

                                  = 0.1

Time = 1 year

We need to find the amount of money she will have in 1 year

⇒ Simple Interest = Principal × Rate × Time

⇒ Simple Interest = 120 × 0.1 × 1

⇒ Simple Interest = $12

So, Amount after 1 year = Principal + Simple Interest

⇒ Amount after 1 year = 120 + 12

⇒ Amount after 1 year = $132

Therefore, The correct answer is C. $132

135 is your answer

step-by-step explanation:

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