Mathematics: Kelly puts $350 in a savings account. the savings account accrues interest at a flat rate of 1.05% a month. how much will it count be worth in 7 months?

Kelly puts $350 in a savings account. the savings

Ответ:

brisamauro27

12.03.2022

The simple interest equation uses "t" as years, but is just cycles, using an APR rate.

now, if we nevermind "t" as years and just use it as an interest cycle, then we can say the rate is 1.05% and the period is 7 cycles.

$\bf \qquad \textit{Simple Interest Earned Amount}\\\\
A=P(1+rt)\qquad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to& \$350\\
r=rate\to 1.05\%\to \frac{1.05}{100}\to &0.0105\\
t=cycles \to 7
\end{cases}
\\\\\\
A=350(1+0.0105\cdot 7)$

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Ответ:

kylie9614

04.01.2023

Mathematics

Ok well here’s a few,

• positive plus negative is always
negative

• when it’s a negative minus negative example ( 1 - - 2), it would change to 1+2.

• positive plus positive will remain positive!

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Kelly puts $350 in a savings account. the savings account accrues interest at a flat rate of 1.05% a month. how much will it count be worth in 7 months?

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