Question

$850 invested at 4% for 10 years. Calculate interest.

Answer 1

The interest after 10 years on the principal amount is $340.

Explanation:

Principal amount = $850

Rate of interest = 4%

Time Period = 10 years

Now, Simple Interest =
`\frac{P * R * T} {100}`

or, S I =
`\frac{850 * 4 * 10} {100}` = $340

So, the interest after 10 years on the principal amount is $340.