paigehickok paigehickok
  • 23-01-2018
  • Mathematics
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Mac deposited $918.78 in a savings account that earns 2.1% simple interest. What is Mac's account balance after ten years?

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jdoe0001 jdoe0001
  • 23-01-2018
[tex]\bf ~~~~~~ \textit{Simple Interest Earned Amount}\\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to& \$918.78\\ r=rate\to 2.1\%\to \frac{2.1}{100}\to &0.021\\ t=years\to &10 \end{cases} \\\\\\ A=918.78(1+0.021\cdot 10)\implies A=918.78(1.21)[/tex]
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