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Marco deposited $500 in a savings account earning 4% interest over 5 years. What was the total amount of interest earned at the end of 5 years? a. $40 b. $50 c. $100 d. $200
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Marco deposited $500 in a savings account earning 4% interest over 5 years.

What was the total amount of interest earned at the end of 5 years?
a. $40
b. $50
c. $100
d. $200

User DotNetkow
by
7.7k points

2 Answers

5 votes

Answer:

c.)100

Explanation:

User Fordareh
by
8.3k points
2 votes
C. 100 because 500 times 0.04(decimal form of 4%) is 20. 20 times 5(years) is 100
User Cosmo Harrigan
by
7.4k points
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