Question

Miguel deposits $2000 into a bank account that earns simple interest. He writes the expression 2000 + 2000(0.015)(t/12) to represent the value of the account after t months. Based on Miguel's expression, how much interest will the account earn in one month?

Answer 1

13 years and 7 months

Answer 2

based on the equation he would make $2.5 in the first month but realistically he would earn around $30 in the first month

Explanation:

2000+2000(.015)(1/12)=2002.5

2002.5-2000=2.5