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?

32 answers

Help NOW PLEASEEEE

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

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.

Thank You Anonymous

i meant bishop i like chess

Thank youz 😊😊

this question do be messin wit my brain doe

yes

tysm

Omg tysm!

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

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

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

well they didn't say it was there's

theirs*

hay papi

aah thanks so much I understand how to do it now

Thank you SO much this makes lots more sense!!

Thanks Anonymous :D

For B, did the acc grow?

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

Thanks Anonymous

SUSS

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.

Anonymous ur a lifesaver tysm

Hi ya dumbys

God bless you all God is real and he is not dead he is surely alive and he loves you all go to church and cry in his presence cause it feels great.🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼

Wow these comments are fresh

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

you got that right.

MMMM peanut the rat i have finally found you now i wil
l eat you

glizzy my favorite