College Algebra 7th Edition

Published by Brooks Cole
ISBN 10: 1305115546
ISBN 13: 978-1-30511-554-5

Chapter P, Prerequisites - Section P.9 - Modeling with Equations - P.9 Exercises: 13

Answer

$0.025x$ dollars

Work Step by Step

We convert the $2\displaystyle \frac{1}{2}\%$ interest to a decimal $= 0.025$. Then to obtain the interest for $x$ dollars we multiply: $0.025x$ dollars in interest
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