simple interest

[Jamie Collins]

Natalie put $300 into a savings account that earns 4% monthly simple interest. How much total money will be in the account after 1 year?

I am very sorry to say that I suck at simple interest and math interally so can someone help me out on this one. I keep thinking you divide 300 by 4 then multiply by 12 but I think that's wrong.

 

[Deleted member 4993]

Natalie put $300 into a savings account that earns 4% monthly simple interest. How much total money will be in the account after 1 year?

I am very sorry to say that I suck at simple interest and math interally so can someone help me out on this one. I keep thinking you divide 300 by 4 then multiply by 12 but I think that's wrong.

Let's do a simpler problem:

Natalie put $300 into a savings account that earns 4% monthly simple interest. How much total money will be in the account after 1 month?

 

[Jamie Collins]

Let's do a simpler problem:

Natalie put $300 into a savings account that earns 4% monthly simple interest. How much total money will be in the account after 1 month?

Would you divide 300 by 4? I am still confused about the steps, however.

 

[Deleted member 4993]

Would you divide 300 by 4? I am still confused about the steps, however.

That will NOT be correct.

Please tell me:

What is 4% of 100 dollars? And

What is 4% of 300 dollars?

 

[Jamie Collins]

That will NOT be correct.

Please tell me:

What is 4% of 100 dollars? And

What is 4% of 300 dollars?

4 and 12

 

[Jamie Collins]

Nevermind. My dad has helped me but thanks for helping me understand it. It was very kind of ya'll.