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

Question

Carmen deposits $4000 into an account that pays simple interest at a rate of 3% per year. How much interest will she be paid in the first 3 years?

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Bơ 4 years 2021-07-20T13:26:03+00:00 1 Answers 8 views 0

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  1. dangkhoa
    0
    2021-07-20T13:27:55+00:00
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    Answer:

    $360

    Step-by-step explanation:

    I = Prt

    I = 4000 * 3 * 3%

    I = 12000 * 3% (Convert 9000 and 3% into fractions.)

    I =12000/1 * 3/100 (100 and 12000 have a GCF of 100)

    I = 120/1 * 3/1 (Disregard the over 1 portion.)

    I = 120 * 3 (Multiply 120 by 3 to get 360.)

    I = $360

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