Question

Marco deposited $500 in a savings account earning 4% interest over 5 years.

What was the total amount of interest earned at the end of 5 years?









A.
$40







B.
$50







C.
$100







D.
$200

Answer 1

I = prt

I = (500)(0.04)(5)

Multiply:

I = 100

So the total interest is $100