If you put $1205.00 in an account that earns 2.5% simple interest. Find the total amount in the account after four years.

Question

Mathematics

Alaina Hall

19 March, 16:21

If you put $1205.00 in an account that earns 2.5% simple interest. Find the total amount in the account after four years.

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Marcelo · Answer 1

Given: $1205.00 money deposited in an account

2.5% simple interest

Asked: Find the total amount in the account after four years.

Solution: 2.5/100 = 0.025

1205 x 0.025 = 30.125

1205 + 30.125 = 1,235.125

1235.125 x 4 = 4,940.5

Answer: $4,940.5 the total amount in the account after four years