Question

Maria deposits $1,950 into a savings account that earns simple interest at a rate of 3%. She makes no withdrawals. How much interest has Maria’s account earned after 4 years?

Answer 1

x = .06418

Explanation:

2 + (9.2)−8x = 2.32

(9.2)−8x = 2.32 − 2

log (9.2)−8x = log .32

−8x log 9.2 = log .32

−8x log 9.2

−8 log 9.2

=

log .32

−8 log 9.2

x = .06418