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kodGreya [7K]
3 years ago
13

An account earns simple interest. $300 at 4% for 3 years a. Find the interest earned. $ b. Find the balance of the account. $

Mathematics
2 answers:
aliina [53]3 years ago
5 0
A. take 300*0.04*3 which is $36

b. add $36 to $300
Oksi-84 [34.3K]3 years ago
5 0

Answer:

a. $36

b. $336

Step-by-step explanation:

The simple interest on a amount is:

A=P(1+rt)

A is the amount after interest, P is the amount before interest, r is the rate of interest and t is the time in years.

a.

We can use the formula:

=300\cdot{(1+0.04\cdot{3})}=300\cdot{1.12}=336

The interest earned is the amount after interest minus the original amount before interest:

=336-300=36

$36 of interest was earned

b.

The balance of the account is $336 worked out in a

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