2 years ago

Ashleyhas$40inasavingsaccount.Theinterestrateis 10% peryearandisnotcompounded.Howmuchwillshehavein4years?

Mathematics

2 answers:

Nimfa-mama [501]2 years ago

6 0

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

ss7ja [257]2 years ago

5 0

Answer:

58.564

or $58.56

Step-by-step explanation:

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