Question

You invest $2100 in an account at 1.5% per year simple interest. The equation that represents this scenario is:A(n)= 2100+ (n-1) (0.015.2100) How much will you have in the account in year 6? Round your answer to the nearest dollar.

Answer 1

Given:

$2100 in an account at 1.5% per year simple interest.

A(n)= 2100+ (n-1) (0.015.2100)

Required:

How much will you have in the account in year 6? Round your answer to the nearest dollar.​

Step-by-step explanation:

`\begin{gathered} A\left(n\right)=2100+n-10.015.2100 \\ \\ A(6)=2100+(6-1)(31.5) \\ \\ A(6)=\text{ \$ 2257.5 or approx \$2258} \\ \\ \end{gathered}`

Required answer:

`\text{ \$2257.5 or approx \$ 2258}`