Asked by Anonymous

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?

I think the answer to A is $4,960 For the other two, I really need help. I honestly do not get it at all and I really need someone to explain it to me in very simple steps please.
Answered by Ms. Sue
Interest = principal times rate times time

960 = 4,000 * r * 3
960 = 12,000r

Solve for r.

Answered by Anonymous
What is the principle? I don't remember.
Answered by Reiny
Assuming this is a simple interest and not a compound interest problem, we are missing the rate
a)
so she has $4960

b)
since I = PRT
960 = 4000(R)(3)
R = .08 so 8% interest

c) if the rate had been 9%
amount = 4000 + 4000(.09)(3) = 5080

So how much more ???
Answered by Anonymous
Give me a second to think...
Answered by Anonymous
Is the rate 8%??
Answered by Ms. Sue
Yes, 8%

Answered by Anonymous
I think I can figure out the rest. Thank you!
Answered by Ms. Sue
You're welcome.
Answered by khonjin
thank
Answered by hi
thanks
💯❤
Answered by CcnC
tree yeaaarrs ago 2022 from islam islands Homie
Answered by Dude
If the interest rate was 9% the interest rate would have been 1,080
Answered by its different
7 yeaaarrs ago 2023 from united states Homie
Answered by Michael afton
.
Answered by I just need help
oh.
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