Rudy invested $1,400.00 in a savings account earning simple interest. At the end of three years, he had a total of $1,568.00 in his account.
a. How much simple interest did he earn in three years? Explain how you found the answer.
b. How much simple interest did he earn per year? Explain how you found the answer.
c. What was the rate of simple interest per year for his account? Explain how you found the answer.

Question

Rudy invested $1,400.00 in a savings account earning simple interest. At the end of three years, he had a total of $1,568.00 in his account.
a.	How much simple interest did he earn in three years? Explain how you found the answer.
b.	How much simple interest did he earn per year? Explain how you found the answer.
c.	What was the rate of simple interest per year for his account? Explain how you found the answer.

anonymous · Answer

168=1400 (x) (3)
168=4200x
.04=x
In three years, Rudy earned $168.
For each year, he earned $56 (x=1400 (.04))
The interest rate is 4% (see above equation)
I'm sorry if I did not do a very good job explaining, I will try to make things less confusing if you don't get it.

anonymous · Answer

No that makes sense! thank you!