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3 years ago

What is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually?

Business

1 answer:

klasskru [66]3 years ago

7 0

Answer:

Explanation:

The yearly amount of interest earned on a $100 deposit at 4 percent rate is:

$Ai=$100*0.04\\Ai=\$4$

Since simple interest investments yield a constant interest each year, the amount earned after two years is:

$I=2*\$4\\I=\$8$

The total amount earned is $8.

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yawa3891 [41]

Answer:

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Explanation:

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3 years ago

An insurance contract promises to pay benefits based upon a future uncertainty such as death, or illness describes which feature

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3 years ago

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BlackZzzverrR [31]

Answer:

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Explanation:

Goodale Properties Inc.

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3 years ago