Steve will earn $160 interest after four years ⇒ 1st answer
Step-by-step explanation:
The formula of the simple interest is I = Prt, where
- P is the initial deposit
- r is the annual rate in decimal
- t is the time of investment
∵ Steve opens a bank account with a simple annual interest rate of 5%
∴ r = 5% = 5 ÷ 100 = 0.05
∵ His initial deposit is $800
∵ He will put the money for four years
∴ t = 4
- Substitute all these values in the formula above
∵ I = 800(0.05)(4)
∴ I = 160
Steve will earn $160 interest after four years
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Answer:
160mm2 is the correct answer
Step-by-step explanation:
Answer is to the question is 20
First you need to make a multiplier for 100-2.1%, to do this you minus the values and divide it by 100:
100-2.1 = 97.9
97.9/100 = 0.979
Then you multiply all the questions by it:
$45 * 0.979 = $44.055
$765 * 0.979 = $748.935
$1300 * 0.979 = $1272.7
Hope this helps! :)