Simple Interest Application PPrt. Where A is the balance of the account after t Simple interest is given by the formula A years, and P is the starting principal invested at an annual percentage rate of r, expressed as a decimal. Julian is investing money into a savings account that pays 5% simple interest, and plans to leave it there for 15 years. Determine what Julian needs to deposit savings account after 15 years. now in order to have a balance of $40,000 in his Julian will have to invest $ now in order to have a balance of $40,000 in his savings account after 15 years. Round your answer to the nearest dollar.

Question
Simple Interest Application
PPrt. Where A is the balance of the account after t
Simple interest is given by the formula A
years, and P is the starting principal invested at an annual percentage rate of r, expressed as a decimal.
Julian is investing money into a savings account that pays 5% simple interest, and plans to leave it there
for 15 years. Determine what Julian needs to deposit
savings account after 15 years.
now in order to have a balance of $40,000 in his
Julian will have to invest $
now in order to have a balance of $40,000 in his
savings account after 15 years. Round your answer to the nearest dollar.

Image Transcription

Simple Interest Application PPrt. Where A is the balance of the account after t Simple interest is given by the formula A years, and P is the starting principal invested at an annual percentage rate of r, expressed as a decimal. Julian is investing money into a savings account that pays 5% simple interest, and plans to leave it there for 15 years. Determine what Julian needs to deposit savings account after 15 years. now in order to have a balance of $40,000 in his Julian will have to invest $ now in order to have a balance of $40,000 in his savings account after 15 years. Round your answer to the nearest dollar.

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