diegovergara6969 diegovergara6969
  • 18-07-2018
  • Mathematics
contestada

Jordan invested $1000 in a savings account. The interest rate is 6% per year. Find the simple interest earned in 4 years. Then find the total of principal plus interest

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DjPeaceQueen
DjPeaceQueen DjPeaceQueen
  • 26-07-2018

The principal would be the original amount, which is $1,000.

The simple interest would be $240, because you would multiply 6% by the principal and then multiply by the amount of years, which is 4. This gives you a total of 240.

The total of principal plus interest would be $1,240, adding both the original amount and the simple interest you owe the bank.

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elkins5639c
elkins5639c elkins5639c
  • 15-03-2021

Answer:

1,240

Step-by-step explanation:

I got it correct.

Answer Link

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