Problem preview
MF.RN.8 Standard MF-014-A04-V02

Solve discount, markup, tax, tip, and simple interest style percent problems.

Solve a simple interest problem

Problem

A savings account has a principal of \(\$1,200\) and earns simple interest at \(4.5\%~\text{per}~\text{year}\) for \(3~\text{years}\). What is the total amount in the account after \(3~\text{years}\)?

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Four variants of this problem type
Curriculum context
Standard
MF.RN.8
Category
Rational Numbers
Domain
Percents
Objective
Solve discount, markup, tax, tip, and simple interest style percent problems.
Problem type
Solve a simple interest problem