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a. Write a formula of I. b. Find the interest earned from investing $3000 in a 2% simple-interest account for 2 years. If the interest rate is 2%, then the decimal interest rate is 0.02. The interest is $ c. The balance B (in dollars) of a bank account is equal to the original money invested plus the interest. Find a formula of B in terms of P, r, and t. B= d. Find the balance after 7 years in a 5% simple-interest account in which $5000 was originally invested. The account balance is $

a. Write a formula of I. b. Find the interest earned from investing $3000 in a 2% simple-interest account for 2 years. If the interest rate is 2%, then the decimal interest rate is 0.02. The interest is $ c. The balance B (in dollars) of a bank account is equal to the original money invested plus the interest. Find a formula of B in terms of P, r, and t. B= d. Find the balance after 7 years in a 5% simple-interest account in which $5000 was originally invested. The account balance is $

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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The interest I (in dollars) earned from a simple-interest bank account is equal to the money P (in dollars) invested, times the decimal annual interest rate r, times the number of years t of the investment. a. Write a formula of I. b. Find the interest earned from investing $3000 in a 2% simple-interest account for 2 years. If the interest rate is 2%, then the decimal interest rate is 0.02. The interest is $ c. The balance B (in dollars) of a bank account is equal to the original money invested plus the interest. Find a formula of B in terms of P, r, and t. B= d. Find the balance after 7 years in a 5% simple-interest account in which $5000 was originally invested. The account balance is $
Transcribed Image Text:The interest I (in dollars) earned from a simple-interest bank account is equal to the money P (in dollars) invested, times the decimal annual interest rate r, times the number of years t of the investment. a. Write a formula of I. b. Find the interest earned from investing $3000 in a 2% simple-interest account for 2 years. If the interest rate is 2%, then the decimal interest rate is 0.02. The interest is $ c. The balance B (in dollars) of a bank account is equal to the original money invested plus the interest. Find a formula of B in terms of P, r, and t. B= d. Find the balance after 7 years in a 5% simple-interest account in which $5000 was originally invested. The account balance is $
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