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March 26, 2017

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If a sum of money is deposited in a savings account that is paying x percent annual interest (expressed as a decimal), then this sum of money increased by a factor of (1+x)^3 after 3 years.

A. multiply this expression
B. Evaluate the polynomial expression found in part (A) for an annual interest rate of 10% or x=0.1.

multiply the expression:
(1+x)^3

  • Algebra HELP! - ,

    kind of pointless in this context, but

    (1+x)^3 = 1 + 3x + 3x^2 + x^3

    (1 + .1)^3 = 1.1^3 = 1.331

    Technically, the problem is worded wrong. If the rate is x% annually, then the expression is (1 + x/100).

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