24) Samit invests $1800 at a rate of 4.5% per year simple interest. Work out the value of his investment at the end of 4 years.

Kyurem asked Aug 6, 2023

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24) Samit invests $1800 at a rate of 4.5% per year simple interest.

Work out the value of his investment at the end of 4 years.

Kyurem asked Aug 6, 2023

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16 votes

Answer: 2124 dollars

Explanation:

4.5% of 1800 is 81. As it is simple interest and not compound, it does not change each year. Therefore, 81 x 4 is 324. 1800+324 = 2124 dollars

Yassir Ennazk answered Aug 11, 2023

2.6k points

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