If you deposit $5,000 into an account that pays 4% simple interest per year, what will the balance be in 6 years?

Solution,

Principal(P)= $ 5000

Rate(R)= 4%

Time(T)= 6 years

Interest=?

Total amount=?

Now,

Again,

Hope this helps...

Good luck on your assignment..

Again,

$6,200.

Step-by-step explanation:

Using the Simple Interest Formula, you can calculate how much interest you can get after 6 years.

Interest = 5000 * 0.04 * 6 = 5000 * 0.24 = 1,200

The total interest that you can gain from those 6 years is $1,200.

Add your $5,000 initial deposit, and you will have $6,200 in 6 years.

Hope this helps!

step-by-step explanation:

i think something is missing in your question because y-1=(x-12) would not pass through the point (-4,-3). because if you replace x by -4 your are supposed to find y=-3 which is not the case her. if you replace x by -4 you find =-15.

i assume the right equation is y-1=1/4*(x-12) because this one is passing through both your points (if you are interested to know how i found that out i can tell you).

in this equation if i replace x by -4 i find y=-3 and if i replace x by 12, i find y=1 so the line representing this equation is passing through those 2 points.

then the standard form of the equation is finding an expression of y in function of x

y-1=1/4*(x-12)

y=x/4-3+1

y=x/4-2

hope that .

do you confirm there was a mistake in the question?