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An account begins the year with a $4000.00 balance. If the account earns 3% simple interest, what is the balance at the end of one year? A. $4,120.00 C. $4,300.00 B. $4,003.00 D.…

An account begins the year with a $4000.00 balance. If the account earns 3% simple interest, what is the balance at the end of one year? A. $4,120.00 C. $4,300.00 B. $4,003.00 D.…
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4 votes
An account begins the year with a

$4000.00 balance. If the account
earns 3% simple interest, what is the
balance at the end of one year?
A. $4,120.00
C. $4,300.00
B. $4,003.00
D. $4,012.00

User Talitha
by
8.3k points

1 Answer

3 votes


s = c(1 + in) \\ s = 4000(1 + 0.03 * 1)


s = 4120.00

Option: A

User Narwanimonish
by
8.7k points
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