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zhannawk [14.2K]
3 years ago
7

Mrs. Piazza invested $8000 in a certificate of deposit that pays 3% simple interest for 4 years. How much will be in Mrs. Piazza

's account at the end of 4 years?
Mathematics
1 answer:
fomenos3 years ago
3 0

Answer:

$8960

Step-by-step explanation:

Given

principal =  $8000

rate= 3%= 0.03

time = 4 years

Required

the final amount, we assume that this is a simple interest investment.

Step two:

A= P(1+rt)\\\\A=8000(1+0.03*4)\\\\A=8000(1+0.12)\\\\A=8000*(1.12)\\\\A=8960

The final amount in the account is $8960

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