Question

$1675 at 4.6% for 4 years

Answer 1

Answer: a) interest earned is $308.2

b) $1983.2

Step-by-step explanation:

a) Interest is calculated by Principal × Rate × Time

From the question, principal is given as $1675; rate = 4.6% = 4.6/100 = 0.046; Time = 4 years

Slot the values into the formula to get the solution

=1675 × 0.046 × 4

= $308.2

Interest earned is $308.2

b) Balance on the account will be Principal + Interest earned

= $1675 + $308.2

=$1983.2

I hope this is clear, please mark as brainliest answer.