Li invests money in a savings account. She wants to know the amount of simple interest that she will earn in 6 years at 3.75 per
cent. What additional information does she need to find this amount?
1 answer:
Answer:
She needs the starting amount of money to create an equation.
Step-by-step explanation:
The formula that she can use when she has the starting amount or the y-intercept is this one: f(t)=P(1+b)^t.
t=time
b=percent
P=starting value
The formula with the information given is: f(6)=P(1+3.75)^6
Hope this helps!
If not, I am sorry.
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