Question

Enter an algebraic expression to model the given context. Give your answer in simplest form.

The principal amount P originally deposited in a bank account plus 0.8% interest
The algebraic expression is

Answer 1

A=P(1.008t)

Explanation:

Given data

Principal=P

Rate= 0.8%

The expression for the amount in a simple interest is given as

A=P(1+rt)

Hence the expression is

A=P(1+0.008t)

simplify

A=P(1.008t)