How much money is in Joe's savings account after 3 years if he deposited $400 at the beginning of the year and the account pays 4% annual simple interest?

Total amount in Joe's savings account T = $448

Step-by-step explanation:

Given;

time t = 3 years

Annual rate r = 4%

Principal P = $400

Simple interest can be expressed as;

I = Prt/100

Substituting the given values;

I = 400*4*3/100 = 4800/100

I = $48

Total amount in account T;

T = P + I = $400 + $48 = $448