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How much much interest is on earned on an account if... Principal= $1,250 Rate= 5.7% Time= 4 year

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The interest earned after 4 years is 285 dollars
User Chloe Bennett
by
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1 vote

Alright, lets gets started.

I suppose , we are asked to find simple interest for above question.

Principal P = $1,250

Rate r = 5.7 %

Time t = 4 years

The formula for simple interest =
(P*r*t)/(100)

Hence simple interest
= (1250*5.7*4)/(100)

Simple interest
= (28500)/(100)

Simple interest = 285 $

Hence interest earned is $ 285. : Answer

Hope it will help :)

User Gord
by
8.8k points

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