Kyle bought a $2000 bond yielding 6% simple interest yearly. Write the equation for the amount after t years.
Kyle bought a $2000 bond yielding 6% simple interest yearly. Write the equation for the amount after t years.
A: A=2;000 (1+0.06t)
B: A=2;000 (1+0.06t)²
C: A=2;000 (1+0.06)
D: A=2;000 (1+0.06t)
For simple interest; the formula is A = P(1 + rt); where A is the total amount; P is the principal; r is the interest rate; and t is time in years.