SOLUTION: Barbara deposited $300 in the bank. If the bank pays her simple interest at the rate of 4 percent per year, how much money will she have in her account at the end of 9 months?

Question 1021272: Barbara deposited $300 in the bank. If the bank pays her simple interest at the rate of 4 percent per year, how much money will she have in her account at the end of 9 months?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Barbara deposited $300 in the bank. If the bank pays her simple interest at the rate of 4 percent per year, how much money will she have in her account at the end of 9 months?
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A(t) = P(1+r*t)
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A(9/12) = 300(1+0.04*(9/12))
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A(3/4) = 300(1+0.03) = 300*1.03 = $309
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Cheers,
Stan H.
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