Question: Simple interest is given by the formula A = P + P r t . Where A is the balance of the account after t

Simple interest is given by the formula A = P + P r t . Where A is the balance of the account after t years, and P is the starting principal invested at an annual percentage rate of r , expressed as a decimal. Trey is investing money into a savings account that pays 4% simple interest, and plans to leave it there for 15 years. Determine what Trey needs to deposit now in order to have a balance of $50,000 in his savings account after 15 years. Trey will have to invest

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