Question

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 end of 3 years?

B. at what annual simple interest rate did the account grow?

c. how many more dollars would she have in her account if the interest rate were 1% greater?

Answer 1

Help NOW PLEASEEEE

Answer 2

amount at end of 3 years = 4000+960 = ...

I = PRT
960 = 4000(R)(3)
R = 960/12000 = .08 or 8%

had the interest been 9%
I = 4000(.09)(3) = 1080

take over

Answer 3

I found this on a website called Brainly and I think it is very helpful:

A) At the end of 3 years the amount in the account = Principal + Interest

Amount = 4000 + 960 = 4960

Amount at the end of 3 years = $4960

b) Formula for Rate , R = 100I/(PT)

Where I = Interest = 960, P = Principal = 4000, T= Time = 3 years

R = (100 × 960) / ( 4000 × 3)

R = 8

Rate, R = 8% per annum.


c) If the rate was 1% more, R = 8 + 1 = 9% per annum

Interest, I = PRT/100

Interest, I = 4000 × 9 × 3 /100 = 1080

Amount in her account would have been = $4000 + $1080 = $5080

Amount more = $5080 - $4960 = $120

She would have had $120 more should the rate were 1% greater.

Answer 4

Thank You Anonymous

Answer 5

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Answer 6

Thank youz 😊😊

Answer 7

this question do be messin wit my brain doe

Answer 8

yes

Answer 9

tysm

Answer 10

Omg tysm!

Answer 11

Thank you so much Anonymous! I understand this so much now!

Answer 12

Thanks, was having trouble with the formula. Now I understand how to calculate simple interest :)

Answer 13

Yall should be careful what you say because you can easily get caught for plagiarism

Answer 14

well they didn't say it was there's

Answer 15

theirs*

Answer 16

hay papi

Answer 17

aah thanks so much I understand how to do it now

Answer 18

Thank you SO much this makes lots more sense!!

Answer 19

Thanks Anonymous :D

Answer 20

For B, did the acc grow?

Answer 21

this might sound like a dumb question, but does anyone know the formula for finding what the simple interest rate is? i mean percentage wise, how much the money would go up. i don’t know how exactly to describe it but nothing pops up on google. thanks

Answer 22

Thanks Anonymous

Answer 23

SUSS

Answer 24

Anyone who downvotes "Becareful what you say because you could get accused of plagiarism" who want answers are stupid, because the teachers woudl easily know, and than those people get in trouble.

Answer 25

Anonymous ur a lifesaver tysm

Answer 26

Hi ya dumbys

Answer 27

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Answer 28

Wow these comments are fresh

Answer 29

pokemon 1 2 3 4 5 6 7 8 9- 10

Answer 30

you got that right.

Answer 31

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Answer 32

glizzy my favorite