Question

Ben deposited $650 from his pressure washing business into a savings account. The simple interest rate paid by the bank is 3.5%. If Ben makes no deposits or withdrawals, how much interest will he earn in 4 years?

Answer 1

Answer:

Simple interest of Ben :

$\frac{\ 650 \times 3.5\% \times 4years}{100} = \frac{9100}{100} = \ 91$

Ben earn $91 in 4 years.