Melissa invests $700 at 4% simple interest per year. How much interest will she earn in 3 years?
1 answer:
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Option A: 4 is the solution
Explanation:
The given expression is
We need to determine the solution of the expression.
<u>Solution:</u>
The solution of the expression can be determined by solving the expression for t.
Let us solve the given expression.
Applying the log rule, if then
Thus, we have;
Adding both sides of the equation by 4t, we get;
Adding both sides of the equation by 3, we have;
Dividing both sides of the equation by 5, we get;
Hence, the value of t is 4.
Therefore, the solution of the given expression is 4.
Thus, Option A is the correct answer.