Question

Deshaun deposits 500 into an account with an interest rate of 5 percent how much intrest sill he be paid in 4 years?

Answer 1

$100

Explanation:

Given data

Principal = 500

Interest= 5%

Time = 4years

Applying the simple interest expression

SI= PRT/100

substitute

SI= 500*5*4/100

SI= 10000/100

SI= 100

Hence the interest after 4 years is $100