MATH

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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  1. First question 4960?

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  2. 4960

    4000*r*3 = 960
    r = 0.08

    an extra 1% of 4000 is $40 more per year

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  3. Second question answer
    Her account grew by 8%

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  4. Interest = principal times rate times time

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

    Solve for r.

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  5. thinks

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  6. thinks.....jk ik what they meant lol but uhmmmm ima try this out hopefully it works :(

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  7. I finally understand! Note- on part c remember to subtract the final product by 960 to find out how much MORE she earns

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  8. @oobleck is correct!

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