350 at 5% for 4 years what is it simple interest to the nearest cent

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15-11-2016
Mathematics

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350 at 5% for 4 years what is it simple interest to the nearest cent

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Zygous Zygous · Answer 1 · 2016-11-15T06:31:23+01:00

Zygous Zygous

15-11-2016

I'm assuming the interest is 5% each year in which case so using the equation A=P(1+rt) and substituting in the values given you have A=350(1+.05(4)) which is $420.00

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