Answer:[tex]8865=6000(1+\frac{5\times t}{100})[/tex]
Step-by-step explanation:
Given
Liam deposited [tex]P=\$\ 6000[/tex]
Rate of interest is [tex]R=5\ \%[/tex]
If the amount after t years is [tex]A=\$\ 8865[/tex]
Simple interest is given by
[tex]S.I.=\dfrac{P\times R\times t}{100}[/tex]
And amount is
[tex]A=P+S.I.[/tex]
[tex]A=P(1+\frac{R\times t}{100})[/tex]
Substituting values we get
[tex]8865=6000(1+\frac{5\times t}{100})[/tex]
[tex]1.4775=1+\frac{5\times t}{100}[/tex]
[tex]0.4775\frac{5\times t}{100}[/tex]
[tex]5t=47.75[/tex]
[tex]t=\frac{47.75}{5}=9.55\ years[/tex]
Answer:
6000*1.5^t=8865
Step-by-step explanation:
Liam starts with 6000 dollars. Since 5% is 5% OF 6000, the expression would be 6000+5%*6000. When we distribute 6000, we get: 6000(1.5). And since every year we multiply by 1.5, we should get: 6000*1.5^t. t years later=8865. So our expression would become: 6000*1.5^t=8865
