the equation a = (400)(0.053)(5) + (400) represents the amount of money earned on a simple interest savings…
the equation a = (400)(0.053)(5) + (400) represents the amount of money earned on a simple interest savings account. what does the value 400 represent? time principal amount interest rate final amount
Answer
Brief Explanations:
The simple - interest formula is $A=P + Prt$, where $P$ is the principal amount, $r$ is the interest rate, $t$ is the time, and $A$ is the final amount. In the given equation $A=(400)(0.053)(5)+(400)$, comparing it with the formula, $(400)$ is the principal amount $P$, $(0.053)$ is the interest rate $r$, and $(5)$ is the time $t$.
Answer:
Principal amount