You deposit $4300 in an account that earns 2% per year simple interest. The equation that represents this situation is: A(n) = 4

Question

3 years ago

15

You deposit $4300 in an account that earns 2% per year simple interest. The equation that represents this situation is: A(n) = 4

300 + (n - 1)(0.02 • 4300) How much will you have in the account at the beginning of the 8th year? Round your answer to the nearest dollar. A. $10,320 B. $4988 C. $4902 D. $4386

Mathematics

1 answer:

Likurg_2 [28] · Answer 1 · 2022-01-14T11:46:22+03:00

Likurg_2 [28]3 years ago

3 0

Answer: $4902

Step-by-step explanation:

Amount = P (1 + rt)

= 4300 (1 + .02 * 7)

= 4300 (1 + .14)

= 4300 (1.14)

= 4902