Round 4.9451 to the nearest thousandths
2 answers:
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Ms. Drake will earn in this time from the investment of
at a simple interest with rate of interest
Simple interest is a way to figure out how much interest will be charged on a sum of money at a specific rate and for a specific duration of time. Conversely, for compound interest, where we add the interest of one year's principal to the next year's principal to compute interest, the principal amount under simple interest remains constant.
Formula for finding simple interest is
Given principal of Ms. Drake is
Rate of interest is
Time is years.
Interest
Therefore, Ms. Drake will earn in this time.
To learn more about simple interest from the given link
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