Question

Jon invests $4,100 into an account that pays 5 percent simple interest each year. What is the total balance in the account after 3 years?

Answer 1

for simple interest: A = P + rPt

where A is the final amount, P is the principal (4100), r is interest rate as a decimal (0.05), t is time (3 yrs). plug in the appropriate values and evaluate A.