Aman was surprised when he found an old bank account statement in his mother’s attic. money had been left for 30 years in a bank account paying simple annual interest. the statement showed that originally $500 had been put into the account. when he called the bank, he found that there is now $1550 in the account! what is the annual interest rate?

i think it's either c or d

step-by-step explanation: the entire question is extremely odd. 04 obviously refers to the interest rate. honestly i will say the answer is c. because the (2 x 12) part would mean it's compounded semiannually. i'll say choose c.

answer: solve 5\cdot 2^x=2405⋅2  

x

=2405, dot, 2, start superscript, x, end superscript, equals, 240.

solution

to solve for xxx, we must first isolate the exponential part. to do this, divide both sides by 555 as shown below. we do not multiply the 555 and the 222 as this goes against the order of operations!

\begin{aligned} 5\cdot 2^x& =240 2^x& =48 \\ \end{aligned}  

5⋅2  

x

2  

x

​    

=240

=48

​

step-by-step explanation: