SOLUTION: Please help me solve this word problem about Simple Interest: $1000 is deposited into an account at the end of each year for 4 years. The money earns 3% compounded annually. D

Question 1194950: Please help me solve this word problem about Simple Interest:
$1000 is deposited into an account at the end of each year for 4 years. The money earns 3% compounded annually. Determine the value of each deposit at the end of 4 years and the total in this account at that time. (Round your final answers to two decimal places.)(Remember: The compounding periods and the deposit periods are the same for an ordinary annuity.)
deposit 1 $
deposit 2 $
deposit 3 $
deposit 4 $
account total $

Answer by ikleyn(52775) (Show Source): You can put this solution on YOUR website!
.

This problem is not on simple interest.

It is a rude mistake and deep delusion to think so.

Hello, you should learn basic terminology before posting your problems -

otherwise, any teaching is counter-productive.

RELATED QUESTIONS
Can someone help me with this problem? If $7,800 is deposited into an account paying (answered by psbhowmick)

$ 2000 was deposited into an account that pays simple interest at a rate of 3% per year. (answered by srinivas.g)

If 5,600 is deposited into an account paying 5% interest compounded annually, (at the end (answered by stanbon)

Please, help me with: Alexis put $400 in an account that earns 2% simple interest. At the (answered by macston)

Please help me solve this problem: Mr. Perez deposited 10,000 pesos at a simple interest... (answered by rfer)

I need help putting this word problem into equation form, can someone help me? A... (answered by ankor@dixie-net.com)

Please help me solve this word problem. World problems are not my strongest point.... (answered by rfer)

Please help me solve this word problem: Kathy invested $8000 for one year. Part at 3% and (answered by stanbon)

you started a job and got paid at the end of the month and decided to put 1000.00 peso... (answered by Theo)