Question

13.50 27.00 40.50 Boden's account has a principal of $300 and a simple interest rate of 4.5%. Complete the number line. How much money will be in the account after 4 years, assuming Boden does not add or take out any money? interest years! 1

Answer 1

amount in the account after 4 yeasrs is $354

the missing interest value is $54 and the missing year is 4

Step-by-step explanation:

Principal = $300

rate = 4.5% = 0.045

time = 4 years

Using the simple interest formula:

I = PRT

I = interest

`\begin{gathered} I\text{ = 300 }*0.045*4 \\ I\text{ = 54} \end{gathered}`

From the number line. we would see the interest for each year was stated.

For example, the interest for year 3, was $40.50

The missing number of years is 4. As a result, the missing blank at the top would be its interest which is $54

After 4 years amount in the account:

A = P + I = 300 + 54

A = $354

Hence, the missing interest value is $54 and the missing year is 4