Question

The equation a = 6 000(1 + 0. 028t) represents the amount of money earned on a savings account with 2. 9% annual simple interest

Answer 1

See below.

Explanation:

This is the correct formula for simple interest, but be careful with the numbers.

a = 6 000(1 + 0. 028t)

0.028 means 2.8% interest rate.

For 2.9% interest rate it should be

a = 6 000(1 + 0. 029t)