Tyler's $1,000 investment will be worth $1,240 after 6 years, invested at 4% interest rate.
The problem gives the following relevant data:
Principal = $1000
Interest rate = 4% simple interest
Term or time period = 6 years
Since simple interest is given, we need to use the simple interest formula;
I = P x R x T
where: P is the principal, R is the interest rate, and T is the time the money will be invested.
I = $1000 x 4% x 6yrs
I = $1000 x 0.04 x 6
I = 40 x 6
I = 240 ==> Interest earned after 6 years is $240.
Total Investment = Principal + Interest
T.I. = $1,000 + $240
T.I. = $1,240 ==> the value of Tyler's investment after 6 years.
Answer:
x+14
Step-by-step explanation:
(12+x)+2
12+x+2
x+(12+2)
x+14
