Randy deposits $7,540 in a bank account that pays 4.5 percent simple interest. If he doesn't change the principle, what will his balance be in 10 years?

The formula for Simple Interest is Interest= Principle x Rate x Time. You fill in the formula- ?= 7540 x 4.5% x 10. Then, you turn the rate into a fraction- 0.045. Fill in the formula again, 7540 x 0.045 x 10, you multiply. 7540 x 0.045 x 10 = 3393. The interest after ten years will be $3393.

To find Randy's balance in 10 years, we need to use the formula for simple interest:

Interest = Principal x Rate x Time

In this case:
Principal = $7,540
Rate = 4.5% or 0.045 (decimal form)
Time = 10 years

First, let's calculate the interest earned over 10 years:
Interest = $7,540 x 0.045 x 10
Interest = $3,393

Next, let's add the interest to the initial principal to find the final balance:
Final Balance = Principal + Interest
Final Balance = $7,540 + $3,393
Final Balance = $10,933

Therefore, Randy's balance after 10 years would be $10,933.