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?​

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Piper 1 day 2021-11-25T19:04:10+00:00 1 Answer 0 views 0

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    2021-11-25T19:05:41+00:00

    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

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