Question

Given a principal of $100 and a rate of 10%, match the number of years to the amount of interest earned using simple interest:

a) 1 year - $10
b) 2 years - $20
c) 3 years - $30
d) 4 years - $40

Answer 1

simple interest:

10% = 10/100=0.1

100*0,1=10$

100*0,1*2=$20

100*0,1*3=$30

100*0.1*4=$40

the correct matches are:

a) 1 year - $10

b) 2 years - $20

c) 3 years - $30

d) 4 years - $40

Explanation: