Question

Yvonne put $4,000 in a savings account. At the end of 3 years, the account had earned $960 in simple interest. How much does she have in her account at the end of 3 years

Answer 1

She have $4960 in her account at the end of 3 years

Explanation:

Yvonne put in a savings account.= $4,000

Principal = $4,000

At the end of 3 years, the account had earned $960 in simple interest.

So, Simple interest = $960

Amount = Principal +interest = $4000 +$960=$4960

Hence She have $4960 in her account at the end of 3 years