Annual interest rate of $400 over 2 years with interest of $24

592 Dollars = after starting from 400 dollars at a annual interest rate compounded at 24%.

Step-by-step explanation:

Equation:

A = P (1 + rt)

Calculation:

First, converting R percent to r a decimal

r = R/100 = 24%/100 = 0.24 per year.

Solving our equation:

A = 400 (1 + (0.24 * 2)) = 592

A = $592.00

The total amount accrued, principal plus interest, from simple interest on a principal of $400.00 at a rate of 24% per year for 2 years is $592.00.