Answer:
Danny will have 12,450 in his savings account
Step-by-step explanation:
P is the principal amount, $10000.00.
r is the interest rate, 3.5% per year, or in decimal form, 3.5/100=0.035.
t is the time involved, 7....year(s) time periods.
So, t is 7....year time periods.
To find the simple interest, we multiply 10000 × 0.035 × 7 to get that:
The interest is: $2450.00
10000.00 + 2450.00 = 12450.00.
Answer:
He will have 12,450.00
Step-by-step explanation:
Ok if he has the starting amount at 10,000 thats your initial value. So to get your solution you have A=10,000 x .035t.
A=10,000 x 0.35 doing that you get 350, being the amount put into the account each year.
Next you do 10000+350(7) giving you 12450.
Hope this helps
