Question

Cody Cody has $700 in a savings account that pays 4% simple interest how much will he have in one year

Answer 1

Question :-

Cody Cody has $700 in a savings account that pays 4% simple interest how much will he have in one year?

____________________

Solution :-

Given Information :-

• Principal ➢ $700
• Rate ➢ 4%
• Time ➢ 1 year

To Find :-

• Simple Interest

Formula Used :-

• 
  `\boxed{ \bf simple \: interest = (principal * rate * time)/(100) }`

Calculation :-

Substituting the values in the formula, We get,

`\sf: \implies simple \: interest = (700 * 4 * 1)/(100)`

Calculating further, We get,

`\sf: \implies simple \:interest = 7 * 4 * 1`

`\sf: \implies simple \: interest = \bf\$ 28`

____________________

Final Answer :-

The Simple Interest will be $28

____________________

Note :-

Please scroll from right to left to see the whole solution.

Answer 2

Answer: $728

Step-by-step explanation:

Look at pic!