Sam initially invested $4,500 into a savings account that offers an interest rate of 3% each year. he wants to determine the number of years, t, for which the account will have less than or equal to $7,020. create the inequality that represents this situation.

Step-by-step explanation:

Sam initially invested $4500 into saving account that offers an interest rate of 3% each year.

It would be simple interest problem because rate isn't compounded.

Simple interest formula

SI=PRT

where,

SI=Simple interest

P=Principal

R=Rate of interest

T=Number of years

Sam account will have less than or equal to $7020 after t years.

Inequality form :

If we solve above inequality. we get t=18 years.