Question

Diego deposited \$ 10,000$10,000 for 44 years at a rate of 6\%6% simple interest. ​Find the amount of interest Diego earned after four years.

Answer 1

$2,400

Explanation:

Note: The correct years is 4 not 44

The Principal = $10,000

Time period = 4 years

Rate = 6 % p.a.

Simple Interest = Principal * Rate * Time

Simple Interest = $10,000 * 6% * 44

Simple Interest = $2,400

So, the amount of interest Diego earned after four years is $2,400