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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asked Nov 4, 2017 1.9k views

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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.

Mathematics
high-school

TobiMcNamobi asked

by TobiMcNamobi

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The equation is total interest= principal*interest rate*time,,i=prt,,I=800*0.04*4=128

Mukesh Ram answered Nov 6, 2017

by Mukesh Ram

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5 votes

Maybe try dividing the equations

Luka Jacobowitz answered Nov 9, 2017

by Luka Jacobowitz

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