1000.00 at 2.5 percent interest for 4 years

Mathematics

1 answer:

kramer3 years ago

3 0

Answer:

$4100

Step-by-step explanation:

To find the total amount of money, the formula is: principle money × interest rate + 100% × amount of time.

Total amount of money = 1000.00 × $\frac{100+2.5}{100}$ × 4

= 1000.00 × $\frac{102.5}{100}$ × 4

= $4100

If you want to find the interest earned, just deduct the principle amount from the total.

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