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This question involves calculating the balance in Larry's savings account using simple interest. We are given:

- Principal (initial deposit), $ P = 1287 $ dollars,
- Interest rate, $ r = 4\% = 0.04 $,
- Time, $ t = 8 $ years.

The formula for simple interest is:

\[
I = P \times r \times t
\]

Where:
- $ I $ is the interest earned,
- $ P $ is the principal amount,
- $ r $ is the interest rate per year (as a decimal),
- $ t $ is the time in years.

After calculating the interest, the total amount in the account will be:

\[
A = P + I
\]

Let's calculate this now.The balance in Larry's savings account at the end of 8 years is approximately **$1,698.84**.

Would you like further clarification or more details?

Here are some related questions to consider:
1. How would the balance change if the interest were compounded annually instead of being simple?
2. What would happen if Larry deposited an additional $500 after 4 years?
3. How does the simple interest formula differ from compound interest?
4. What would be the total balance after 10 years instead of 8?
5. How does increasing the interest rate to 5% affect the total amount?

**Tip**: Simple interest grows linearly, while compound interest grows exponentially, making a big difference over time.

Larry put $1,287 into a savings account 8 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals. Based on this information, what is the balance in dollars and cents in Larry’s savings account at the end of these 8 years?

Learn how to calculate the balance of a savings account with $1,287 deposited at a 4% simple annual interest rate over 8 years. This detailed solution covers key concepts, including the simple interest formula and the linear growth of interest. Suitable for students in Grades 7-9.

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