anonymous
  • anonymous
PLEASE HELP. VERY DESPERATE suppose you deposit $1,000 in a savings account that pays interest at an annual rate no money is added or withdrawn from the account.
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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jamiebookeater
  • jamiebookeater
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anonymous
  • anonymous
Where is the question?
anonymous
  • anonymous
what will the amount be after 4 years
anonymous
  • anonymous
You can use the formula for a simple interest rate which is interest = principal * rate * time You will need to know the interest rate though.

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anonymous
  • anonymous
the interest rate is 6%
anonymous
  • anonymous
I = 1,000 * 0.06 * 4 = 240 so there will be $1,240 after 4 years.
anonymous
  • anonymous
what about after 17 years?
anonymous
  • anonymous
Just substitute 17 in for 4.
anonymous
  • anonymous
i dont get it? :(
anonymous
  • anonymous
You have the initial amount which is called the principal. You then multiply that by the amount of interest earned, 6%, converted into decimal form which is 0.06. Then multiply that by the amount of time.
anonymous
  • anonymous
For 17 years it would be I = 1000 * 0.06 * 17 = 1020 Add that to the principal and you have your total after 17 years. 1020+ 1000 = 2020
anonymous
  • anonymous
for the account to contain 1,500 how long would it take?
anonymous
  • anonymous
Solve this equation: 1000 * 0.06 * x = 1,500
anonymous
  • anonymous
type a whole number
anonymous
  • anonymous
8 years
anonymous
  • anonymous
what about 2,000
anonymous
  • anonymous
16 years 8 months
anonymous
  • anonymous
kk thanks!:)
anonymous
  • anonymous
ps. YOUR A flutterING IDIOT WHO MADE ME GET IT WRONG
anonymous
  • anonymous
READ A MATH BOOK IDIOT

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