Mathematics, 19.05.2020 03:23 Spongebone4571

When calculating the balance (amount) of a principal that earns a simple interest rate, you are actually modeling a linear relationship. Suppose principal (P) is $2000 and the rate earned is 4.5%. The formula for amount is A = 2000(1 + 0.045t) = 2000 + 90t where t is the number of years invested, Find the balance the money is invested for 20 years.

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