kelly plans to put her graduation money into an account and leave it there for four years while she goes to college. she receives $750 in graduation money that she puts it into an account that earns 4.25% interest. how much will be in kelly's account at the end of four years?

Question

anonymous · Answer

750 x 4.25 x 4 / 100

anonymous · Answer

What kind of compound or simple interest?

anonymous · Answer

simple interest

anonymous · Answer

Do you know the formula?

anonymous · Answer

I=PRT

anonymous · Answer

so you just mulpitply them?

anonymous · Answer

Yes, to get Interest for 4 yrs!

anonymous · Answer

OK...!!~~ thx

anonymous · Answer

Then add with $750 to get total balance :)

anonymous · Answer

so.. you multiply the principle rate and time.. then add the product to 750?

anonymous · Answer

Yep,

Balance = principal + Interest

anonymous · Answer

OK thx!

anonymous · Answer

Do you want me check your result, just post it up!

anonymous · Answer

k..working on it

anonymous · Answer

750x0.0425x4=127.5
127.5+750=877.5

anonymous · Answer

Yep, the way you calculate is safe :)

anonymous · Answer

Later, when you get used to it, and the problem getting complicated you will need scientific calculato, that help calculate much faster. However you need to know do it manually to see how it make sense first :)

anonymous · Answer

ok...thank you so much <3

anonymous · Answer

Message me whenever you need help :)

anonymous · Answer

ok..ill keep that in mind