Damian invests $250 in a savings account with a 4% simple interest rate. Which expressions can be used to find the total amount
of interest Damian will earn after 1 year?
1 answer:
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
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