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You deposit $4300 in an account that earns 2% per year simple interest. The equation that represents this situation is: A(n) = 4300 + (n - 1)(0.02 • 4300) How much will you have in the account at the beginning of the 8th year? Round your answer to the nearest dollar. A. $10,320 B. $4988 C. $4902 D. $4386

User Hyralex
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1 Answer

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Answer: $4902

Explanation:

Amount = P (1 + rt)

= 4300 (1 + .02 * 7)

= 4300 (1 + .14)

= 4300 (1.14)

= 4902

User BoomBaby
by
8.3k points
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