To calculate the total amount of money Daisy will have in her account after 1 year, we need to calculate the interest she will earn and then add it to her initial investment.

Step 1: Calculate the interest
Interest = Principal amount * Interest rate * Time
Interest = $14,000 * 1.4/100 * 1
Interest = $196

Step 2: Add the interest to the initial investment
Total amount = Initial investment + Interest
Total amount = $14,000 + $196
Total amount = $14,196

So, Daisy will have $14,196 in her account after 1 year.

Question

To calculate the total amount of money Daisy will have in her account after 1 year, we need to calculate the interest she will earn and then add it to her initial investment.

Step 1: Calculate the interest
Interest = Principal amount * Interest rate * Time
Interest = $14,000 * 1.4/100 * 1
Interest = $196

Step 2: Add the interest to the initial investment
Total amount = Initial investment + Interest
Total amount = $14,000 + $196
Total amount = $14,196

So, Daisy will have $14,196 in her account after 1 year.

Knowee AI · Accepted Answer

To calculate the total amount of money Daisy will have in her account after 1 year, we need to calculate the interest she will earn and then add it to her initial investment.

Step 1: Calculate the interest
Interest = Principal amount * Interest rate * Time
Interest = $14,000 * 1.4/100 * 1
Interest = $196

Step 2: Add the interest to the initial investment
Total amount = Initial investment + Interest
Total amount = $14,000 + $196
Total amount = $14,196

So, Daisy will have $14,196 in her account after 1 year.

Daisy invests $14 000 in a fixed deposit account at a local bank. The interest rate is 1.4% per year. How much money will she have in the account after 1 year?

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