Respuesta :
|| ▼ Answer ▼ ||
|| ✪ Solution ✪ ||
Step 1:
In this question, we are given the following:
A teenager puts $50 into an investment account in January.
If by December the balance in the account increases by 17%,
what is the amount of money in the account in December?
Step 2:
In this case, we are going to use:
[tex]Amount=Principal~(~1+\frac{Rate}{100})^{n}[/tex]
Here, Principal = $ [tex]50[/tex]
Rate = 17%
[tex]^{n}(Time)=~From~January~to~December=12=months=1~year[/tex]
Then, we have that:
[tex]Amount=50~(~1+\frac{17}{100})^{1}[/tex]
[tex]Amount=50~(~1+0.17~)^{1}[/tex]
[tex]Amount=50~(~1.17)[/tex]
[tex]Amount=[/tex] $ 58.50 (Option B)
CONCLUSION:
The amount of money in the account in December = $ 58. 50 ( OPTION B )
Hope this helps!
If you have any queries please ask.
