The balance in a bank account is given by the formula B=120x1.02t. Here B is the balance in dollars t years since the start of 2012. What was the balance at the start of 2012? What is the annual interest rate? **note: the x does not represent a variable. In this case it means multiplication.
The balance in a bank account is given by the formula B=120x1.02t. Here B is the balance in dollars t years since the start of 2012. What was the balance at the start of 2012? What is the annual interest rate? **note: the x does not represent a variable. In this case it means multiplication.
Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.2: Solve Percent Applications
Problem 3.39TI: Areli invested a principal of $950 in her bank account with interest rate 3%. How much interest did...
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The balance in a bank account is given by the formula B=120x1.02t. Here B is the balance in dollars t years since the start of 2012. What was the balance at the start of 2012? What is the annual interest rate?
**note: the x does not represent a variable. In this case it means multiplication.
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