Answer:
$1400
Explanation:
Principle amount in Raymond's account = $1,250
Interest earned on that amount = 3%
Time period for which the money will be in that account = 4 years
Total amount in Raymond's account will be sum of amount deposited by Raymond and interest accrued in 4 years at the rate of 3% per year.
Simple Interest for any amount p in T years at R% is given by formula
=
Therefore Simple interest accrued in 4 years will be =
=> 1250*3*4/100 = 150
Therefore total interest accrued is $150
Total money in Raymond's account = total interest accrued + Principle amount in Raymond's account = $(150+1250) = $ 1400
$ 1400 money will Raymond have in the account after 4 years if there are no withdrawals or additional deposits.