Question

Marissa deposited $900 in her savings account. The rate of simple interest is 5% power year. Find the balance at the end of 4 years.

Answer 1

$1080

Explanation:

F = P + Prt

r = 5% = 0.05; t = 4

F = $900 + $900 × 0.05 × 4

F = $1080