Question

Jocelyn invests $10,000 into a simple interest account. The account earns 4% interest. After 3 years, how much interest has Jocelyn earned?

Answer 1

Answer: 1,200

Solving:
You start off with $10,000 in investment. You need to turn 4% into a decimal form. Move the decimal 2 times to the right. The result should be 0.04. Multiply 0.04 with $10,000. The product should be 400. It said “3 years” so multiply 400 by 3. 400 times 3 is 1,200.

Hope this helps!

Answer 2

Answer: $1,600

10,000×.04=400

400×3=1,600

I hope this is good enough: