An account earns simple interest. $300 at 4% for 3 years. Find the intrest earned.

Question

Mathematics

Issac Grant

22 December, 22:00

An account earns simple interest. $300 at 4% for 3 years. Find the intrest earned.

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Answers (2)

Know the Answer?

Angie Landry · Answer 1

Interest (I) = $300 x 0.04 x 3

I = 36

Gabriela Savage · Answer 2

F (x) = 300 (1.04) ^3

I got the 1.04 from adding 4 to hundred because your question is growing if it was decaying it would be 4 - 100 your answer is 104 then you move the decimal place over by 2 creating 1.04.