Bryce puts $100.00 into an account to use for schopl expenses. The account earns 3% interest, compounded annually. How much will be in the account after 7 years?

Help!!!

A = $122.99

Step-by-step explanation:

A = P + I where

P (principal) = $100.00

I (interest) = $22.99

First, convert R as a percent to r as a decimal

r = R/100

r = 3/100

r = 0.03 rate per year,

Then solve the equation for A

A = P(1 + r/n)nt

A = 100.00(1 + 0.03/1)(1)(7)

A = 100.00(1 + 0.03)(7)

A = $122.99

Therefore:

The total amount accrued on a principal of $100.00 at a rate of 3% per year compounded 1 time per year over 7 years is $122.99.

none.

step-by-step explanation:

m

1

=

5

m1=5

b

=

−

1

b=-1

find the slope and y-intercept of the second equation.

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m

2

=

0

m2=0

b

=

−

6

b=-6

compare the slopes

m

m of the two equations.

m

1

=

5

,

m

2

=

0

m1=5,m2=0

compare the two slopes in the decimal form. if the slopes are equal, then the lines are parallel. if the slopes are not equal, then the lines are not parallel.

m

1

=

5

,

m

2

=

0

m1=5,m2=0