## Birute deposits $500 in a savings account with a simple interest rate of 1.3% How could you use this information to find the interest s

Question

Birute deposits $500 in a savings account with a simple interest rate of 1.3%

How could you use this information to find the interest she would earn in

4 years and determine the percent change in her savings account?

in progress
0

Math
1 day
2021-11-25T19:04:10+00:00
2021-11-25T19:04:10+00:00 1 Answer
0 views
0
## Answers ( )

The formula for simple interest is:

A = P(1+ rt)

P = principal, r = interest rate, t = years

A = 500(1+0.013×4)

A = 526.00

Interest = 526-500= 26

They will earn $26 in interest