Roxanne deposited $300 into a savings account earning 5(1/4)% annually. What is her balance after 1 year?

Roxanne deposited $300 into a savings account earning 5(1/4)% annually. What is her balance after 1 year?

Detailed Explanation

Interest earned in 1 year is 300 * 5(1/4)% =15.75. The total amount of the account after 1 year is 300 + 15.75 = 315.75.