Asked by Kanna

You put $1205 in an account that earns 2% simple interest. Find the total amount in the account after 4 years.
Answered by henry2,
P = Po + Po*r*t = 1205 + 1205*0.02*4 =
Answered by eee
The formula for simple interest is
Interest= (Principle)(Rate)(Time)

(1205)(.02)(4)= 96.4
96.4 is the interest earned, but we need the total amount of money in the account. 1205 plus 96.4 is 1301.4
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