Given:
$2100 in an account at 1.5% per year simple interest.
A(n)= 2100+ (n-1) (0.015.2100)
Required:
How much will you have in the account in year 6? Round your answer to the nearest dollar.
Explanation:
[tex]\begin{gathered} A\left(n\right)=2100+n-10.015.2100 \\ \\ A(6)=2100+(6-1)(31.5) \\ \\ A(6)=\text{ \$ 2257.5 or approx \$2258} \\ \\ \end{gathered}[/tex]Required answer:
[tex]\text{ \$2257.5 or approx \$ 2258}[/tex]
