the balance is the principal plus the interest, right?
I=Prt, so 4000*r*3 = 960
if r=r+0.01, then she'd have 4000*0.01 = $40 more
Note: Enter your answer and show all the steps that you use to solve this problem in the space provided.
Yvonne put $4,000 in a savings account. At the end of 3 years, the account had earned $960 in simple interest.
How much does she have in her account at the end of 3 years?
At what annual simple interest rate did the account grow? Show your work.
How many more dollars would she have in her account if the interest rate were 1% greater? Show your work.
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