Answer:
$10.5
Step-by-step explanation:
Given data
P=$150
T= 1year
R= 7%
The simple interest formula will give the accurate amount at the end of each year
A=P(1+rt)
A=150(1+0.07*1)
A=150*1.07
A=$160.5
The withdrawal = 160.5-150= $10.5
Hence the withdrawal will be $10.5
