Question

How much much interest is on earned on an account if... Principal= $1,250 Rate= 5.7% Time= 4 year

Answer 1

Alright, lets gets started.

I suppose , we are asked to find simple interest for above question.

Principal P = $1,250

Rate r = 5.7 %

Time t = 4 years

The formula for simple interest = $\frac{P*r*t}{100}$

Hence simple interest $= \frac{1250*5.7*4}{100}$

Simple interest $= \frac{28500}{100}$

Simple interest = 285 $

Hence interest earned is $ 285. : Answer

Hope it will help :)

Answer 2

The interest earned after 4 years is 285 dollars