Question

PLZZZZ HELP If Tyler deposits $1500 of the $3200 he has earned in an account that pays 4% simple interest, how much will he have after 5 years? Show all work.

Answer 1

$\bf \qquad \textit{Simple Interest Earned Amount}\\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to& \ 1500\\ r=rate\to 4\%\to \frac{4}{100}\to &0.04\\ t=years\to &5 \end{cases} \\\\\\ A=1500(1+0.04\cdot 5)\implies A=1800$

now, he had 3200, he took 1500 for deposit, so, 3200 - 1500, he had left in his pocket 1700.

so after 5 years, he'll have 1700 + 1800.