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An account earns annual simple interest. Find the balance of the account. $250 at 4% for 1 year

An account earns annual simple interest. Find the balance of the account. $250 at 4% for 1 year
asked 176k views
3 votes
An account earns annual simple interest. Find the balance of the account.

$250 at 4% for 1 year

asked
User Tolik Odukha
by
8.5k points

1 Answer

2 votes
4/100= 0.04
0.04 x 250 = 10 (This is the interest earned in the year)
250+10 = 260
answered
User Mario Camou
by
8.5k points
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