Question

This is for an overdue assignment so I'm gonna need some help, and fast.

Roberto invests $4,500 and earns 4% simple interest each year. Assuming he makes no additional deposits or withdrawals, what is the total amount of interest he will make in 6 years?

Answer 1

So, this equation is a interest equation. You would need to do I = P x T x %. In this question, you would need to times 4,500 by 6 then times it by 4%. In 6 years, you will have $5,693.94

Answer 2

He will make $1080 of interest. So the total amount of money in his account will be $5580

Explanation:

4500×0.04=180

180×6=1080