Question

Boden's account has a principal of $600 and a simple interest rate of ​4.1%. Complete the number line. How much money will be in the account after 4 years, assuming Boden does not add or take out any​ money?

A) Below $600
B) $600 to $700
C) $700 to $800
D) Above $800

Answer 1

The amount of money in Boden's account after 4 years with simple interest is above $800.

Step-by-step explanation:

To find the amount of money in Boden's account after 4 years with simple interest, we use the formula: Total = Principal + (Principal × rate × time).

Given that the principal is $600 and the interest rate is 4.1%, we substitute these values into the formula to calculate the total:

Total = $600 + ($600 × 0.041 × 4) = $624.24.

Therefore, the answer is above $800.