lethycialee1908 lethycialee1908

24-02-2021
Mathematics

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Deshaun deposits 500 into an account with an interest rate of 5 percent how much intrest sill he be paid in 4 years?

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samuelonum1 samuelonum1

26-02-2021

Answer:

$100

Step-by-step explanation:

Given data

Principal = 500

Interest= 5%

Time = 4years

Applying the simple interest expression

SI= PRT/100

substitute

SI= 500*5*4/100

SI= 10000/100

SI= 100

Hence the interest after 4 years is $100

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