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jason deposit $5000 in a bank account that will pay him 4% simple interest annually if jason deposits no more than the initial $5000, how much money will be in the account at the end of five years ? (the formula for simple interest is l = prt or interest = principal * rate * time. use a decimal to express the interest when using that formula.)

Respuesta :

iGreen
[tex]\sf I=prt[/tex]

Plug in what we know:

[tex]\sf I=5000(0.04)(5)[/tex]

Multiply:

[tex]\sf I=1000[/tex]

Add this to the original amount.

[tex]\sf 5000+1000=\boxed{\sf \$ 6000}[/tex]

So he will have $6000 in his account after 5 years.

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