Question

Isabella is calculating the interest earned on a deposit of $3000 in an account that earns 4% simple interest after 6 years I=prt I= 3000(.04)(6). A. I=3,720. Isabella determines that her deposit will then be worth 6,720.00. Explain what isabela did incorrect . B. what is the correct amount of interest. please show the work

Answer 1

Interest = $ 720

Explanation:

p = $ 3000

r = 4%

t = 6

I =
`3000*(4)/(100)*6\\`

= 30 *4 * 6

= 720

Amount = p + I

= 3000 + 720

= $ 3720