Question

Marco deposited $500 in a savings account earning 4% interest over 5 years.

What was the total amount of interest earned at the end of 5 years?

A.
$40

B.
$50

C.
$100

D.
$200

Answer 1

5 medals

Answer 2

If you're using simple interest, then use

I = P*r*t

in this case,

P = 500 is the amount you deposit
r = 0.04 is the interest rate as a decimal
t = 5 years

Answer 3

so what the answer

Answer 4

plug in P = 500, r = 0.04 and t = 5 into the formula

then compute

Answer 5

as in solve it

Answer 6

yes

Answer 7

add or

Answer 8

multiply

Answer 9

500*0.04*5

Answer 10

yes now evaluate that expression