Find the interest rate pricalpal 400$ rate 5% time 1 year

The interest is $20 and the amount is $420.

Step-by-step explanation:

Find an interest by using the formula I=P⋅i⋅t, where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.

In this example P = $400, i = 5% and t = 1 years, so

I = P x i x t = 400 x 0 x 05⋅1 = 20

Now Find an amount by using the formula A=P+I.

Since P = $400 and I = $20 we have

A=P+I

=400+20

=420