Question

As incentive for Gretchen to save the three thousand dollars she recently inherited, her parents tell her that they will pay her fifteen percent simple annual interest on the amount that she saves. How much money will Gretchen have after 3 years if she saves all of the money she inherited?

Answer 1

3000 $ she inherited so
the interest rate is 15%
that is 0.15 *3000
= 450$ per anum
so after 3 years it will be
1350$ so if we add it to the inherited amount
1350 +3000 = 4350$ answer