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Fatima deposits $400 into her bank account that earns 4% simple interest per year. What is the total amount in her account after 5 years (Hint: use I=Prt) Explain the work please!!!
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Fatima deposits $400 into her bank account that earns 4% simple interest per year. What is the total amount in her account after 5 years (Hint: use I=Prt)

Explain the work please!!!

User Parnab Sanyal
by
8.0k points

2 Answers

3 votes
I=400(0.04)(5)
Interest is 80 dollars
400+80=480
There
User Unknown Artist
by
8.5k points
6 votes
I=400(0.04)(5)
Interest is 80 dollars of interest
400+80=480
I think that is the answer you're looking for :)
User Fauverism
by
7.7k points
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