Ben deposited $650 from his pressure washing business into a savings account. The simple interest rate paid by the bank is 3.5%.

Question

3 years ago

11

If Ben makes no deposits or withdrawals, how much interest will he earn in 4 years?

1 answer:

bazaltina [42] · Answer 1 · 2022-02-26T04:43:03+03:00

9514 1404 393

Answer:

$91

Step-by-step explanation:

The amount of interest earned is given by the formula ...

I = Prt

where P is the invested amount at rate r for t years.

Filling in the given values, we find the interest to be ...

I = $650·0.035·4 = $91

Ben will earn $91 interest in 4 years.