Answer: $56
Step-by-step explanation:
Given that it is not compounded, then it is simple interest
Simple interest (I) = PRT/100
Where p = Principal, given as $40
R = Rate, given as 10% = 10/100 = 0.1
T is the time given as 4 years
From the information given, find the interest
Slot the values into the formula:
I= 40 x 0.1 x 4
I = $16
Therefore, Ashley will have the sum of the initial Principal and the interest in her account after 4 years
= $40 + $16
= $56
1
