Question

Garrett chooses to invest $1800 in a simple interest account. The account earns 3% interest over the years. Which function represent Garett's investment?

Answer 1

Garrett's investment using simple interest can be represented by the function A(t) = 1800 + (1800 * 0.03 * t), which calculates the total amount A after t years by adding the interest 1800 * 0.03 * t to the principal of $1800.

Step-by-step explanation:

The function that represents Garrett's investment using simple interest would be a linear function based on the principal amount, the rate of interest, and the time for which the money is invested. The general formula for simple interest is I = Prt, where I is the interest, P is the principal, r is the rate of interest per year (in decimal), and t is the time in years.

In Garrett's case, the principal amount P is $1800 and the annual interest rate r is 3% (or 0.03 in decimal form). Therefore, the function representing the total amount of money A Garrett will have after t years, including the interest earned, is:

A(t) = P + (Prt)

A(t) = 1800 + (1800 × 0.03 × t).