Toshiro has $850 to invest. He can invest in a savings account that has an annual interest rate of 3.7%, and he can invest in a money market account that pays about 5.5% per year. Write a polynomial to represent the amount of interest he will earn in 1 year if he invests x dollars in the savings account and the rest in the money market account.

a. 46.75-0.018x

b. 850 - 3.7x + 5.5y

c. 0.018x - 46.75

d. (3.7 + 5.5) x - 850

Question

Mathematics

Ansley

24 April, 03:07

Toshiro has $850 to invest. He can invest in a savings account that has an annual interest rate of 3.7%, and he can invest in a money market account that pays about 5.5% per year. Write a polynomial to represent the amount of interest he will earn in 1 year if he invests x dollars in the savings account and the rest in the money market account.

a. 46.75-0.018x

b. 850 - 3.7x + 5.5y

c. 0.018x - 46.75

d. (3.7 + 5.5) x - 850

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Answers (1)

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Cordell Forbes · Answer 1

A = P (1 + r/n) (nt)

A = the future value of the investment

P = (the initial deposit or loan amount)

r = the annual interest rate (decimal)

n = the number of times that interest is compounded per year

t = the number of years the money is invested