Question

2900 dollars is placed in an account with an annual interest rate of 9% Wirte an equation that calculates how many dollars will be in the account after x years.

Answer 1

Answer:

The amount that will be in the account will be $(2900 +261x)

Step-by-step explanation:

We know that the amount of money that will be in the account will be a sum of the initial principal ($2900) and the interest that is accrued after x years.

Since we already know the principal, we will have to calculate the interest that is accrued after x years.

we can use the formula:

Interest = (principal X rate X time)/ 100

Interest = $(2900 \times 9 \times x)/100=261x$

Therefore the amount that will be in the account will be $(2900 +261x)