Asked by Samantha

Ms. Caswell deposits $450 into an account earning 8% interest per year. How much simple interest is earned after 4 years?

Please explain.. I'm supposed to show work =]
thank you!
Answered by Reiny
the simple interest formula is
Interest = principal x rate x time
= 450(.08)(4)
= ....
Answered by Samantha
Thank you so much! That helps a ton =]
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