Answered

Get reliable answers to your questions at Westonci.ca, where our knowledgeable community is always ready to help. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

At the beginning of year 1, Matilda invests $450 at an annual simple interest rate of 5%. She makes no deposits to or withdrawals from the account. Which explicit formula can be used to find the account's balance at the beginning of year 15? What is the balance?

Sagot :

jay40891

Answer:

$765

Step-by-step explanation:

[tex]interest \: = \frac{prt}{100} \\ = \frac{(450)(5)(14)}{100} \\ = 315 \\ total \: money \: = 315 + 450 \\ = 765[/tex]

A(n) = 450 + (n – 1)(0.05 • 450); $765.00

Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.