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12345 [234]
3 years ago
5

If a person invests $100 at 4% annual interest, find the approximate value of

Mathematics
1 answer:
tekilochka [14]3 years ago
5 0

Answer:

$140

General Formulas and Concepts:

<u>Pre-Algebra</u>

Order of Operations: BPEMDAS

  1. Brackets
  2. Parenthesis
  3. Exponents
  4. Multiplication
  5. Division
  6. Addition
  7. Subtraction
  • Left to Right<u> </u>

<u>Algebra I</u>

Simple Interest Rate Formula: \displaystyle A = P(1 + rt)

  • <em>P</em> is principle amount
  • <em>r</em> is rate
  • <em>t</em> is time

Step-by-step explanation:

<u>Step 1: Define</u>

<em>Identify variables</em>

<em>P</em> = 100

<em>r</em> = 4% = 0.04

<em>t</em> = 10

<u>Step 2: Find Interest</u>

  1. Substitute in variables [Simple Interest Rate Formula]:                                 A = 100(1 + 0.04 · 10)
  2. (Parenthesis) Multiply:                                                                                      A = 100(1 + 0.4)
  3. (Parenthesis) Add:                                                                                            A = 100(1.4)
  4. Multiply:                                                                                                             A = 140
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