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3 years ago

What is the answer of how much he got in interest?

Mathematics

2 answers:

beks73 [17]3 years ago

8 0

Answer:

He earned $1,100 in interest. $6,600 is the new amount in his bank.

Step-by-step explanation:

Liula [17]3 years ago

5 0

Answer:

After 4 he will have earned $1100 in Interest

His new account balance will be $6600

Step-by-step explanation:

Principal P = $5500, Time T = 4 years, and at Rate R of 5%

Simple Interest SI = PRT/100

SI = (5500 × 4 × 5)/100

SI = 55 × 4 × 5

SI = $1100

Account balance after 4 years will be Principal + Simple Interest

$5500 + $1100 = $6600

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