Question

?2300 is invested in 4 years at 5% per year simple interest work out the total interest

Answer 1

460

Explanation:

I=P x r x t

P is the principal amount, $2300.00.

r is the interest rate, 5% per year, or in decimal form, 5/100=0.05.

t is the time involved, 4....year(s) time periods.

So, t is 4....year time periods.

To find the simple interest, we multiply 2300 × 0.05 × 4 to get that:

The interest is: $460.00