Question

Find the interest
earned:
$4,000 for 4 years at
5% annual simple
interest

Answer 1

Explanation:

Answer:

I = $ 800.00

Equation:

I = Prt

Calculation:

First, converting R percent to r a decimal

r = R/100 = 5%/100 = 0.05 per year,

then, solving our equation

I = 4000 × 0.05 × 4 = 800

I = $ 800.00

The simple interest accumulated

on a principal of $ 4,000.00

at a rate of 5% per year

for 4 years is $ 800.00.

hope it helps :)