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Mathematics, 22.07.2021 20:30 cjdieball2106
Simple interest is given by the formula
A=P+Prt. Where Ais the balance of the account after t years, and P is the starting principal invested at an annual percentage rate of r, expressed as a decimal.
Salvador is investing money into a savings account that pays 2% simple interest, and plans to leave it there for 10 years. Determine what Salvador needs to deposit now in order to have a balance of at least $30,000 in his savings account after 10 years.
Salvador will have to invest a minimum of $
now in order to have a balance of at least $30,000 in his savings account after 10 years. Round your answer to the nearest dollar.
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Simple interest is given by the formula
A=P+Prt. Where Ais the balance of the account after t years...
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