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erma4kov [3.2K]
3 years ago
15

Jim deposits $4000 into an account that pays simple interest at a rate of 3% per year. How much interest will he be paid in the

first 3 years? 12PTS
Mathematics
2 answers:
11111nata11111 [884]3 years ago
7 0
I = p * r * t
I = 4000(.03)(3)
I= $360
Rina8888 [55]3 years ago
5 0
I'll use the simplest way:

Money = $4000
Rate of Interest: 3% per year

So, how much does he get per year? Here: 4000 x (3/100) = $120 per year.

So how much does he get paid in 3 years? Here: 120x3 = $360 in 3 years.

Or you can say that he got $4,360 from $4,000 in a span of 3 years with 3% interest.

Hope I helped a bit.
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See below:

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Hello! My name is Galaxy and I will be helping you today, I hope you are having a nice day!

We can solve this in two steps, Comprehension and Solving. I'll go ahead and start with Comprehension.

If you have any questions feel free to ask away!!

Comprehension

We know according to the laws of geometry that all angles in a triangle add up to 180 degrees.

We also know that in an isosceles angle, the base angles are equation to each other.

Now that we know what we need to know, we can setup an equation.

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I'll start solving now.

Solving

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