Question

1. margie's parents have invested $900 into a puppy so that she could still have him when she's older. If the money grows at a simple interest rate of 3% for the next 10 years how much will the original investment have grown

Answer 1

`~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$900\\ r=rate\to 3\%\to (3)/(100)\dotfill &0.03\\ t=years\dotfill &10 \end{cases} \\\\\\ A = 900[1+(0.03)(10)] \implies A = 1170~\hfill \stackrel{ \textit{it grew by} }{\text{\LARGE 270}}`