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Timothy deposited $2,780.20 in a savings account that earns 4.3% simple interest. What will Timothy’s account balance be in 7 months?

Respuesta :

keeping in mind that, there are 12 months in a year, therefore, 7 months is really just 7/12 of a year.

[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& \$2780.20\\ r=rate\to 4.3\%\to \frac{4.3}{100}\to &0.043\\ t=years\to &\frac{7}{12} \end{cases} \\\\\\ A=2780.20\left(1+0.043\cdot \frac{7}{12} \right)[/tex]
its in google i had the same question as u once
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