Damian invests $250 in a savings account with a 4% simple interest rate. Which expressions can be used to find the total amount

Question

2 years ago

10

of interest Damian will earn after 1 year?

1 answer:

AlekseyPX · Answer 1 · 2022-09-07T20:18:12+03:00

AlekseyPX2 years ago

7 0

Answer:

$260

Step-by-step explanation:

GIven

P=$250

R=4%

T=1 year

The total amount of simple interest is

A=P(1+rt)

substitute

A=250(1+0.04*1)

A=250(1.04)

A=250*1.04

A=$260

Hence the total amount is $260