Ask Question
5 January, 17:55

Find the simple interest earned in a savings account that pays 5% interest if $500 is deposited for 4 years.

+1
Answers (1)
  1. 5 January, 20:59
    0
    Answer:; Simple interest (I) = $100.0

    Step-by-step explanation:

    Simple interest (I)

    I = P x R x T

    P = principal, R = rate and T = time

    I = 500 x 5 x 4/100

    I = 10,000/100

    I = $100.0
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Find the simple interest earned in a savings account that pays 5% interest if $500 is deposited for 4 years. ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers