Answer:
A= $1406
Step-by-step explanation:
The formula for simple interest is A=P(1+rt), where P=Principal, R=Rate, and T=Time. Before you plug your numbers into your formula, you must first convert 12% to a decimal (This is simple because all you have to do is divide 12 by 100.)- 0.12.
Now, you can plug your numbers into the formula: A=950(1+0.12x4). To make this less complex, I suggest working in the parenthesis first- specifically simplifying rt, or multiplying 0.12 by 4 (you should get 0.48)! Now, you are just about ready to go. A=950(1+0.48)- You can plug this into your calculator as is, or you can go on ahead and add the numbers in the parenthesis if that makes you feel better! (You should get 1.48).
Your final formula should be 950(1.48), and you should plug this into a TEACHER-APPROVED CALCULATOR to save time!
Your final answer should be $1406, otherwise you did something wrong! XD!
