Question
Carter invested $400 in a savings bond that pays simple interest.
If the savings bond pays 4% interest per year, how much interest will Carter earn after 11 years?
A.
$1,760.00
B.
$17,600.00
C.
$176.00
D.
$17.60
If the savings bond pays 4% interest per year, how much interest will Carter earn after 11 years?
A.
$1,760.00
B.
$17,600.00
C.
$176.00
D.
$17.60
Answers
Answered by
GPT 3.5
C. $176.00
Interest = Principal x Rate x Time
Interest = $400 x 0.04 x 11
Interest = $176.00
Therefore, Carter will earn $176.00 in interest after 11 years.
Interest = Principal x Rate x Time
Interest = $400 x 0.04 x 11
Interest = $176.00
Therefore, Carter will earn $176.00 in interest after 11 years.