Assuming a 3% interest rate ,$300 invested today in a savings account today will be worth $309 in one year. What will that amount be in 2 and 3 years , and what is the total interest you will earn at the end of the 3years

Profit - principal (2nd year) = $318

Profit - principal (3rd year) = $327

Profit at the end of 3rd year = $27

Step-by-step explanation:

We know,

Simple Interest (Profit) = Principal × Interest rate × number of years

Here,

Principal, p = $300;

Interest rate, r = 3% = 0.03

Number of years, n = 1

Therefore, they have calculated the interest = $300 × 0.03 = $9

Therefore, Profit + Principal = $9 + $300 = $309 after 1 year.

After the 2nd year, Profit - Principal = Principal + (P × r × n)

Profit - Principal = $300 + (300 × 0.03 × 2) = $300 + $18 = $318

Profit - principal after 3rd year = Principal + (P × r × n)

= $300 + (300 × 0.03 × 3) = $300 + $27 = $327

Therefore, I will earn $27 as interest at the end of the 3rd year.

first, we define the variables:

x: number of years after 1950

f (x): amount of vinyl sold.

then, with the variables defined, we have:

68594 vinyl records were sold in 1958 > f (8) = 68594

91299 vinyl records were sold in 1961 > f (11) = 91299

38720 vinyl records were sold in 1952 > f (2) = 38720

161743 vinyl records were sold in 1967 > f (17) = 161743

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step-by-step explanation:

7/2

(decimal: 3.5)

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step-by-step explanation: