Question

Find an algebraic expression to model the given context. Give the answer in simplest form.

The principal amount P originally deposited in a bank account plus 0.2% interest

The algebraic expression is ________ + _________ = _________

Answer 1

`p + (p * .002) = i`
This is a calculation assuming that the loan calculates simple interest and not compound interest.
.2%= .2/100= .002
p= principal
i= simple interest added into p