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

I assume this is simple interest

each year the interest is 4% of $500 = 0.04 * $500

for 5 years multiply this by 5

Answer 2

100?

Answer 3

Correct.

Answer 4

Yeea thank you guys for ur help

Answer 5

yea C is correct