Tony is going to put $900 in a savings account that earns 3.2% simple interest. He will leave the money in there for 4 years. How much money will he earn in interest? What will his account balance be at the end of 4 years?

Question

Mathematics

Franco Knox

23 March, 09:15

Tony is going to put $900 in a savings account that earns 3.2% simple interest. He will leave the money in there for 4 years. How much money will he earn in interest? What will his account balance be at the end of 4 years?

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Answers (1)

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Isai Jones · Answer 1

Your answer would be $115.20 for your interest in all. His account balance would be $1015.20 at the end of four years.

I got this answer by first multiplying 900 times. 032. I got the. 032 by saying that 3 percent is. 03, and. 2 percent is a. 002 ...032 would be that percentage in a decimal version. I got 28.8 from that, so that would be your simple interest. Multiply that by four for your total interest together, and add 900 to it to get your answer.