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$500 invest at 4% simple interest for 3 years
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4 votes
$500 invest at 4% simple interest for 3 years

User Geneise
by
5.6k points

2 Answers

5 votes

500x4%x3=60 the answer is $60

User Nirav Alagiya
by
5.7k points
1 vote
Simple interest formula:
I=Prt where I = interest p=principle and r and A=P(1+rt) where A = the amount accumulated over t years.
plug in your values
principle= 500
r=.04
t=3
A=300(.04)(3)
A=$545
User Javieralog
by
5.5k points
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