Hello! My work for this problem is attached below. The answer is
Vb = 4Va
Answer:
(5x - 12) - 4x = -36
Step-by-step explanation:
AMOUNT DEPOSITED: $15k ($15,000)
INTEREST RATE PER YEAR: 0.07% (7%)
STEPS:
→Multiply the amount deposited ($15k) by the interest rate per year (7%).
15,000 * 0.07
= $1,050 (interest earned in 1 year)
→Multiply the interest earned from the first year ($1,050) by the amount of years that you want to calculate (3 years)
$1,050 * 3
=3,150 (interest earned in 3 years)
→ Add the interest earned (in 3 years, in this particular equation) to the amount that you deposited ($15k)
$15,000 + $3,150
=$18,150
FINAL ANSWER: $18,150
