Answer:
Principal (p) = $775
Rate of interest (r) = 4.24% = 0.0424
No of years/time (t) = 4 years
Simple interest = ptr
= 775 × 4 × 0.0424
= 131.44 dollars
Hence simple interest after 4 years is $131.44
Amount = simple interest + principal
= 775 + 131.44
= 906.44 dollars
Hence amount after 4 years is $906.44
RESULT
906.44 dollars
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