Question

Chanel deposited $1175 into a savings account that pays a simple annual interest rate of 1.45%.
How much interest will she earn after 4 years?
• $68.15
• $42.59
• $32.41
• $17.04

Answer 1

You'll use this formula
\(\large i = P*r*t\)
with
i = simple interest earned
P = amount deposited (principal)
r = interest rate in decimal form
t = number of years

In this case,
i = unknown
P = 1175
r = 0.0145
t = 4

Answer 2

Is time (4) entered as a exponent?

Answer 3

no, you just multiply out 1175, 0.0145 and 4

Answer 4

1175*0.0145*4 = ??

Answer 5

Ok, thank you so very much

Answer 6

No problem

Answer 7

good job @jimthompson5910

Answer 8

Thanks I appreciate it