Question

Mrs. Lia deposited $4000 at Big Bank. If her money earned 4% simple interest annually. How much interest did she received at the end of 24 months?

Answer 1

4000*0.04 = 160

24/12=2

160*2 = 320 interste receveid after 24 mounths

4000+320=4320

Explanation:

Answer 2

320$

Explanation:

Since it's 4%
4000 * 0.04 = 160

24 months = 2 years

annually = 1 year

160 * 2 = 320$

Hope this helps!