Ask Question
28 May, 09:09

Birute deposits $500 in a savings account with a simple interest rate of 1.3%

How could you use this information to find the interest she would earn in

4 years and determine the percent change in her savings account?

+4
Answers (1)
  1. 28 May, 09:36
    0
    The formula for simple interest is:

    A = P (1 + rt)

    P = principal, r = interest rate, t = years

    A = 500 (1+0.013x4)

    A = 526.00

    Interest = 526-500 = 26

    They will earn $26 in interest
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Birute deposits $500 in a savings account with a simple interest rate of 1.3% How could you use this information to find the interest she ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers