Answer:
$8960
Step-by-step explanation:
Given
principal = $8000
rate= 3%= 0.03
time = 4 years
Required
the final amount, we assume that this is a simple interest investment.
Step two:
[tex]A= P(1+rt)\\\\A=8000(1+0.03*4)\\\\A=8000(1+0.12)\\\\A=8000*(1.12)\\\\A=8960[/tex]
The final amount in the account is $8960
