Simple interest is given by the formula A = P + P r t A = P + P r t . Where A A is the balance of the account after t t years, and P P is the starting principal invested at an annual percentage rate of r r , expressed as a decimal. Dustin is investing money into a savings account that pays 5% simple interest, and plans to leave it there for 10 years. Determine what Dustin needs to deposit now in order to have a balance of $20,000 in his savings account after 10 years. Dustin will have to invest $ now in order to have a balance of $20,000 in his savings account after 10 years. Round your answer to the nearest dollar.