Question

If someone invested $4500.00, how much would they have earned after 4 years, at a simple interest rate of 2%?

Answer 1

A = 4860

Explanation:

SI = (P×R×T)/100

SI = (4500×2×4)/100

SI =360

Amount after 4 years

A = SI + P

A=4500+360

A= 4860