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Kate deposits $800 in a bank
account that pays 4% in simple
interest. How much interest does
Kate receive over 5 years?

Kate deposits 800 in a bank account that pays 4 in simple interest How much interest does Kate receive over 5 years class=

Respuesta :

frika

Answer:

C

Step-by-step explanation:

Use formula

[tex]I=P\cdot r\cdot t,[/tex]

where

I = interest

P = rpincipal

r = rate (as decimal)

t = time (in years)

In your case,

P = $800

r = 0.04 (4%)

t = 5,

so

[tex]I=\$800\cdot 0.04\cdot 5\\ \\I=\$160[/tex]

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