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Answer:

The final bank account amount will be $10,412.50, earning $7,012.50 in interest.

General Formulas and Concepts:
Algebra I

Simple Interest Rate Formula:
[tex]\displaystyle A = P(1 + rt)[/tex]

  • A is the final amount
  • P is the principle amount
  • r is rate
  • t is time

Step-by-step explanation:

Step 1: Define

Identify given variables.

P = $3,400

r = 0.0825

t = 25

Step 2: Find Interest

  1. [Simple Interest Rate Formula] Substitute in variables:
    [tex]\displaystyle A = 3400 \bigg[ 1 + 0.0825(25) \bigg][/tex]
  2. Evaluate:
    [tex]\displaystyle A = \boxed{10412.5}[/tex]

∴ the bank account will gain $7,012.50 and have a net balance of $10,412.50.

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Learn more about interest rate: https://brainly.com/question/27710668

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Topic: Algebra I
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