At the beginning of year 1, bode invests $250 at an annual simple interest rate of 3%. he makes no deposits to or withdrawals from the account. which explicit formula can be used to find the account’s balance at the beginning of year 14? what is the balance?
a. a(n) = (250)(n – 1)(0.03); $97.50 b. a(n) = 250 + (n)(0.03 • 250); $355.00 c. a(n) = 250 + (n – 1)(0.03); $250.39 d. a(n) = 250 + (n – 1)(0.03 • 250); $347.50

D.A(n) = 250 + (n – 1)(0.03 • 250); $347.50

Step-by-step explanation:

we know that

The simple interest formula is equal to

where

A is the Final Investment Value

P is the Principal amount of money to be invested

r is the rate of interest  

t is Number of Time Periods

in this problem we have

substitute in the formula above

yes

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step-by-step explanation:

49%

step-by-step explanation:

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