To figure this question out, I recommend the FOIL method.
F: First
O: Outer
I: Inner
L: Last
Statement A is true. IH and AG in the FOIL method is the Outer.
So simple interest, you don't compound anything, you will always add 3% from $9500 and it will not change. The equation will look like this:
9500*[1+(0.03*8)]
giving us 9500*1.24 = $11,780
Use the equation 300⇒5x to find how much tim made each day on average.
x⇒60 so, Day 1: $60, Day 2: $70 etc.. so the equation 300=5x+10 suffices the problem. 300⇒5x+10 ⇒ 290=5x
x=58
So, Tim earned $58 his first day. Hope this helped.
