Question

I deposited 1000 into an account with 3% interest and kept it there for 4 years. A. How much money would I have if the interest was simple interest? B. How much money would I have if the interest was compound interest?

Answer 1

Answer:

a.1125

Step-by-step explanation:

a. I = PRT (1000)(0.03)(4)

1000 x 0.03 = 30

30 x 4 = 120

1000 + 120 = 1120.

answer for a is 1120

Sorry