Yvonne put $4,000 in a savings account. At the end of 3 years, the account had earned $960 in simple interest.
a) How much does she have in her account at the en of 3 years?
b)t what annual simple interest did the account grow? Show your work.
c) How many more dollars would she have in her account if the interest rater were 1% greater? Show your work.
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OpenStudy (anonymous):
I think it's c but I'm not 100% sure
OpenStudy (anonymous):
multiply the following:
\[4,000\times 3 years\]
then I have no idea what to do next
OpenStudy (i_love_my_nieces):
It's not MC okay
OpenStudy (anonymous):
MC? @I_love_my_nieces
OpenStudy (i_love_my_nieces):
Multiple choice.
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OpenStudy (anonymous):
Oh I'm so sorry
OpenStudy (i_love_my_nieces):
It's fine!
OpenStudy (jdoe0001):
\(\bf i = prt\qquad i=960\qquad p=4,000\qquad t=3
\\ \quad \\
960=4,000\cdot r\cdot 3\)
so how much do you think she has in her account after t = 3, 3 years ?
keep in mind that she put originally, as principal, 4,000
OpenStudy (i_love_my_nieces):
i'm gonna go eat now so if you can hold on!
OpenStudy (anonymous):
Haha
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