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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asked Jul 15, 2023 196k views

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.

Mathematics
college

Mitchell Gilman asked

by Mitchell Gilman

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1 Answer

10 votes

Answer:

A = 1.16d

Explanation:

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

Keenan Diggs answered Jul 19, 2023

by Keenan Diggs

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