You earn $10.00/hour. You invest $4,000.00 at an interest rate of 5% APR for a year. How much interest did that savings earn in a year in terms of hours of work?

Question

Mathematics

Phillip Frederick

2 May, 15:19

You earn $10.00/hour. You invest $4,000.00 at an interest rate of 5% APR for a year. How much interest did that savings earn in a year in terms of hours of work?

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Marquise Green · Answer 1

ok s in one year you get 200 dollars at a 5% interest rate. ok so you worked 400 hours to get 4000 dollars to start

then at the year your interest rate gave you 20 hours more of work for free no labor so at the end of one year 4200 in the bank