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Peter invests $525 at a simple interest rate of 4%. How much interest will he earn after 6 years?
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Peter invests $525 at a simple interest rate of 4%. How much interest will he earn after 6 years?

User Christopher Stock
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1 Answer

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He will earn $126 in interest.
How did I solve this:
Find the decimal of 4%:
4% = 0.04
Multiply 0.04 times 525:
0.04 x 525 = 21
Multiply $21 times 6 years:
21 x 6 = 126
126 is your correct and finale answer.
Hope this helps! =)
User Nisa
by
8.5k points
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