The policy of the Black Oyster Pawnshop is to lend up to 30% of the value of a borrower’s collateral. Pete wants to use a $2,000
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Answer:
y = 360(1.03)x
Step-by-step explanation:
F is the future worth, P is the present worth, I will be the interest rate, and n is the number of years.
The principal amount of the money = $360
Annual rate of interest = 3%
Thus, the amount after x years which is increased by 3%.
Since, this amount represented by y,
The required equation that represents the amount of money in Josiah’s account, y, after x years is,
This amount represented by y,
Therefore, the required equation that represents the amount of money in Josiah’s account, y, after x years is,
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