Question

HELP!!! I will rate brainliest to fastest and correctly: Paula invests 10,000 for 5 years at an interest rate of 10% per year. If the interest is simple interest, how much is her investment worth at the end of those five years?

Answer 1

15,000

Since her interest is simple, it adds the 10% to the original amount.

So, we multiply her amount (10,000) by the interest rate (.1) and by the amount of years (5).

10,000 * .1 * 5= 5,000

This is how much she has gained from said interest. Adding this to 10,000 gives us 15,000, which is the amount she will have.


Another way to do this would be to make a chart/table:

Start: 10,000
1. 11,000
2. 12,000
3. 13,000
4. 14,000
5. 15,000

And thus, we get the same answer.