John wants to invest in a simple intereset savings account The intereset rate on this account is 0.7%. The account balance y can be modeled by the following linear equation y=150,000+150,000(0.007)x where x represents the time (in years) that john leaves her money in the account what is johns initial investment?

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wifilethbridge wifilethbridge · Answer 1 · 2020-07-07T16:48:39+02:00

Answer:

John's initial investment is Rs.150000

Step-by-step explanation:

Let the principal amount be a

We are given that John wants to invest in a simple interest savings account .The interest rate on this account is 0.7%.

Now to find simple interest in x years

Formula : [tex]Si = P \times T \times R[/tex]

Where P = Principal

T= time

R = rate of interest in decimals

So,[tex]SI=a \times 0.007 \times x[/tex]

Amount = Principal+Interest

Amount = [tex]a+a(0.007)x[/tex]

We are given that The account balance y can be modeled by the following linear equation y=150,000+150,000(0.007)x

So, On comparing a = 150000

Hence John's initial investment is Rs.150000