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Brums [2.3K]
3 years ago
8

jason deposit $5000 in a bank account that will pay him 4% simple interest annually if jason deposits no more than the initial $

5000, how much money will be in the account at the end of five years ? (the formula for simple interest is l = prt or interest = principal * rate * time. use a decimal to express the interest when using that formula.)
Mathematics
1 answer:
kotegsom [21]3 years ago
6 0
\sf I=prt

Plug in what we know:

\sf I=5000(0.04)(5)

Multiply:

\sf I=1000

Add this to the original amount.

\sf 5000+1000=\boxed{\sf \$ 6000}

So he will have $6000 in his account after 5 years.
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