A bank offers a 5% annual interest rate for a savings account. Perry puts $2,600 into an account to save for college. How much will be in the account after a year?

2730$

Step-by-step explanation:

The amount of money left in the account after n years is given by the equation

where

is the initial amount of money

r is the rate of interest

n is the number of years

In this problem, we have:

is the initial amount of money

is the interest rate (5%)

n = 1 is the number of years

Therefore, the amount of money after 1 year is

yes

yes yes yes

or

step-by-step explanation:

we need to solve for 'x' the following equation:  

we have that:

⇒

⇒ ⇒

factorizing, we get that:

  ⇒

then, the solutions are: or

nothing extraneous has been found!