Suppose a principal amount of $2079 were invested into a simple interest account that pays an annual rate of 2.31% then the amount of interest earned at the end of 14 years would be how much

The amount of interest earned at the end of 14 years would be $672.3486

Step-by-step explanation:

This is a simple interest problem.

The simple interest formula is given by:

In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.

In this problem, we have that:

So

The amount of interest earned at the end of 14 years would be $672.3486

explanation:

previous steps have made pa≅ pb ≅ st ≅ su. setting the compass width to ab allows you to make tu the same length. then δstu ≅ δpab by the sss congruence postulate, and ∠p ≅ ∠s by the reason cpctc.

take the logarithm of both sides (the base of the log doesn't matter):

apply the exponent property - this says that :

distribute the log terms on both sides:

group like terms together:

divide through both sides by the coefficient on :

you can do some additional rewriting here using the properties of the logarithm to simplify things if you like: