Question

An account earns simple interest. $300 at 4% for 3 years. Find the intrest earned.

Answer 1

f(x)=300(1.04)^3

I got the 1.04 from adding 4 to hundred because your question is growing if it was decaying it would be 4 - 100 your answer is 104 then you move the decimal place over by 2 creating 1.04.

Answer 2

Interest (I)= $300 x 0.04 x 3
I= 36