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Lamar deposits $800 into an account that pays simple interest at a rate of 4% per year. How much interest will he be paid in the first 4 years? Please answer with an explanation…

Lamar deposits $800 into an account that pays simple interest at a rate of 4% per year. How much interest will he be paid in the first 4 years? Please answer with an explanation…
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1 vote
Lamar deposits $800 into an account that pays simple interest at a rate of 4% per year. How much interest will he be paid in the first 4 years? Please answer with an explanation.

User TobiMcNamobi
by
8.2k points

2 Answers

1 vote
The equation is total interest= principal*interest rate*time,,i=prt,,I=800*0.04*4=128
User Mukesh Ram
by
8.0k points
5 votes
Maybe try dividing the equations
User Luka Jacobowitz
by
7.9k points
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