nokesdon675 nokesdon675

21-06-2017
Mathematics

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if 500 is deposited into an account earning 6 percent simple interest what is the future value in 6 years how do you work it put

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jdoe0001 jdoe0001

21-06-2017

[tex]\bf \qquad \textit{Simple Interest Earned Amount}\\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to& \$500\\ r=rate\to 6\%\to \frac{6}{100}\to &0.06\\ t=years\to &6 \end{cases} \\\\\\ A=500(1+0.06\cdot 6)[/tex]

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