Answer:
Step-by-step explanation:
If the interest is not compounded, it means that it is simple interest. The formula for determining simple interest is expressed as
I = PRT/100
Where
I represents interest paid on the amount deposited.
P represents the principal or amount deposited.
R represents interest rate
T represents the duration in years.
From the information given,
P = 60
R = 5%
T = 1 year
I = (60 × 5 × 1)/100 = $3
The amount that she will have in 1 year is
60 + 3 = $63
