Answer:
The interest at 4 % of $250.00 will be $10
Step-by-step explanation:
If you invest money, after a certain period of time you’ll get interest.
For example, if you invest $2,000 at 5 % annual interest rate, in a year you will have ( $2,000 ) x ( 0.05 ) = $100 of annual simple interest in addition to the original amount.
If you invest $250.00 at 4% interest rate, the interest will be ( $250.00 ) x( 0.04 ) = $10.
Simple interest is based on arithmetic progression and compound interest is based on geometric progression.