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iogann1982 [59]
3 years ago
10

Sami's bank account earns 4% simple interest per year. If Sami deposits $500, how much simple interest will she earn in one year

?
Mathematics
1 answer:
timurjin [86]3 years ago
6 0

Answer:

$20 simple interest.

Step-by-step explanation:

The simple interest that Sami earns is 4% of her deposit since she is trying to find how much she will earn in one year (given that the interest rate is 4% per annum).  

\$500\times4\%=\$20

∴ Sami earns $20 simple interest in one year.

Hope this helps :)

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