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yKpoI14uk [10]
2 years ago
5

Aaron deposited $400 in a saving account earning 3% simple interest. write an equation to represent how much money (y) Aaron wou

ld have after (x) years. use your equation to determine how much money Aaron would have in the account after 15 years.
Mathematics
1 answer:
klio [65]2 years ago
4 0

~~~~~~ \textit{Simple Interest Earned Amount \underline{in 15 years}} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$400\\ r=rate\to 3\%\to \frac{3}{100}\dotfill &0.03\\ t=years\dotfill &15 \end{cases} \\\\\\ A=400[1+(0.03)(15)]\implies A=400(1.45)\implies A=580 \\\\[-0.35em] ~\dotfill\\\\ ~\hfill y=400(1.03x)~\hfill

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