Question

Mrs linesman deposits 500 dollars into a bank account that earns 4 percent simple interest per year what is the total amount in her account after 1 year

Answer 1

Explanation:

principal= 500dollars

rate= 4%

time=1 year

simple interest=principal x rate x time

100

simple interest= 500 x 4 x 1 = 2000/100 = 20

100

To find total amount money in the account

= simple interest + principal

= 20 + 500

= 520dollars

Answer 2

she has $520 after 1 year.