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Write a formula for the following: The amount in an account at the end of a year, if simple interest is paid at the rate of 16%, and the account contains d dollars at the beginning of the year.
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22 votes
Write a formula for the following:

The amount in an account at the end of a year, if simple interest is paid at
the rate of 16%, and the account contains d dollars at the beginning of the year.

User Mitchell Gilman
by
8.2k points

1 Answer

10 votes

Answer:

A = 1.16d

Explanation:

Multiplying by 1 + the percentage value is equivalent to adding the percentage.

User Keenan Diggs
by
8.3k points
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