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3 years ago

What is the account balance if the principle is $350 the annual rate is 4% and the time is 3 years.

Mathematics

2 answers:

Harlamova29_29 [7]3 years ago

8 0

Answer:

The answer is 42.

Step-by-step explanation:

We start by using the Simple Interest Formula.

I=P x R x T

Key

P: Principal, R: Rate and T: Time

>P=$350

>R=4% or .04

>T= 3 (for 3 years)

Finally, multiply everything (350)(.04)(3)

| I= 42 |

mixer [17]3 years ago

5 0

Answer:

393.70

Step-by-step explanation:

350x.04= 14 for 1st year

350+14= 364 for 1st year

364×.04= 14.56 for 2nd year

364+14.56= 368.56 for 2nd year

368.56×.04= 15.14 for 3yr

368.56+15.14= 393.70 yr 3 yrs

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What is the account balance if the principle is $350 the annual rate is 4% and the time is 3 years.​

What is the account balance if the principle is $350 the annual rate is 4% and the time is 3 years.