Question

The amount of money in a bank account increased by 18.5% over the last year. If the amount of money at the beginning of the year is represented by n, which expression represents the amount of money in the bank account after the increase? Select all that apply.

A
n + 0.185n

B
n + 18.5n

C
1.185n

D
0.185n

E
18.5n

F
19.5n

Answer 1

A)n+0.185n C) 1.185n

Explanation:

the formula for simple interest is
`I=P(1+rt)`

if the interest rate is 18.5% and the time is 1 year, it would look like:

`P(1+0.185(1))` or
`P(1.185)`