Question

lina puts $300 in a college fund account that gives 10% simple interest annually. How much interest would she have after 4 years?​

Answer 1

`\bf ~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$300\\ r=rate\to 10\%\to (10)/(100)\dotfill &0.10\\ t=years\dotfill &4 \end{cases} \\\\\\ I=(300)(0.10)(4)\implies I=120`