Sherwin deposits $500 into a simple interest account. The interest rate for the account is 3.75% The
function P(1) - 500 + 18.75t represents the balance in the account as a function of time. Determine the
account balance after each given number of years,

1.)3 Years = $556.35

2.)2 Years = $537.50

3.)10 Years = $687.50

4.)15 Years = $781.25

Step-by-step explanation:

1.)P(t) = 500 + 18.75 (3). "3 Years = $556.35"

2.)P(t) = 500 + 18.75 (2) "2 Years = $537.50"

3.)P(t) = 500 + 18.75 (10) "10 Years = $687.50"

4.)P(t) = 500 + 18.75 (15) "15 Years = $781.25"

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