Question

1000.00 at 2.5 percent interest for 4 years​

Answer 1

Answer:

$4100

Step-by-step explanation:

To find the total amount of money, the formula is: principle money × interest rate + 100% × amount of time.

Total amount of money = 1000.00 × $\frac{100+2.5}{100}$ × 4

                                       = 1000.00 × $\frac{102.5}{100}$ × 4

                                       = $4100

If you want to find the interest earned, just deduct the principle amount from the total.