Question

When Sarah invests $4000 in a money market

account she receives 1.4% simple interest annually.
If she doesn't add or subtract any money how
much interest will she earn after 4 years?

Answer 1

$4,224

Explanation:

P(principal)=$4,000

R(rate)=1.4%

T(Time): 4 years

A=4,000×(1+(0.014×4))=$4,224

A=$4,224.00

So, Sarah will have $4,224 of interest in 4 years.