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Serga [27]
3 years ago
7

You deposit $1,609 in an account that pays 4% interest compounded yearly . Find the balance at the end of 7 years.

Mathematics
1 answer:
cestrela7 [59]3 years ago
4 0
The equation is A=P(1+I)^t
Plug in all your variables to get A=1609(1+0.04)^7
Solve to get A=$2117.33
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The basic idea is that you add the opposite of any term you don't want. Whenever you perform any operation (like "add"), <em>you must do it to both sides of the equation</em>.

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<em>Additional comment</em>

If we were to end up with an x-coefficient other than 1, we would divide both sides of the equation by that coefficient. This will leave the x-term with a coefficient of 1.

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