Find the simple interest earned in a savings account that pays 5% interest if $500 is deposited for 4 years.

Mathematics

1 answer:

Sophie [7]3 years ago

3 0

Answer: ;Simple interest (I) = $100.0

Step-by-step explanation:

Simple interest (I)

I = P x R x T

P = principal, R = rate and T = time

I = 500 x 5 x 4/100

I = 10,000/100

I = $100.0

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