smith deposited 3,500 for 4 years years in a savings account with an annual simple interest rate of 3.5%. How much interest did

Question

Kryger [21]

3 years ago

15

smith deposited 3,500 for 4 years years in a savings account with an annual simple interest rate of 3.5%. How much interest did

Smith earn during the 4 years?

Mathematics

1 answer:

love history [14] · Answer 1 · 2022-08-02T07:33:44+03:00

love history [14]3 years ago

8 0

Simple Interest = Money Amount + (Interest percentage of Money × number of years or months)

SI = 3500 + (3.5% of 3500 × 4)
SI = 3500 + (122.5 × 4)
SI = 3500 + 490
SI = 3990 !

He earned 3990 over 4 years. If you liked my answer, please make me the brainliest answer! :)