Yvonne put $4,000 i a savings account. At the end of 3 years, the account had earned $960 in simple interest.

A.how does she have in her account at the end of 3 years?
B. at what annual simple interest rate did the account grow? show your work.
C.how many more dollars would she have in her account if the interest rate were 1% greater? Show your work.

Question

Yvonne put $4,000 i a savings account. At the end of 3 years, the account had earned $960 in simple interest.

A.how does she have in her account at the end of 3 years?
B. at what annual simple interest rate did the account grow? show your work.
C.how many more dollars would she have in her account if the interest rate were 1% greater? Show your work.

tkhunny · Answer

What is the basic formula for Simple Interest?  If you do not know it, you cannot solve this problem.  Also, if you do not know it, you should not have been given this problem to solve.

Go!