## Thinking Mathematically (6th Edition)

Published by Pearson

# Chapter 8 - Personal Finance - 8.3 Simple Interest - Exercise Set 8.3 - Page 513: 41

#### Answer

The statement does not make sense.

#### Work Step by Step

The statement does not make sense. The expression $(\$1500)(0.04)$, which is$\$60$, is the interest that was earned in one year. The balance in the account should be $\$1500+(\$1500)(0.04)$, which is $\$1560\$

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