Question

Constance invested $4000 for 3 years in a savings account paying simple interest with a yearly interest rate of 3.5%. How much simple interest did she earn?

Answer 1

To solve this problem you might have to use this formula y=a(1+r)^t A=amount of money you already have 1= a set number R= rate T= time  YOUR GIVENS ARE: A=4000 R= 3.5% (0.035) decimals T= 3 years NOW lets plug IN everything in the FORMULA y=4000(1+.035)^3= $4434.87. NOW lets subtract 4000-4434=434. She earned $434 of simple interest.

Answer 2

Answer:

420 is the right APEX answer