shayne420k shayne420k

22-08-2022
Mathematics

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Sally deposits $4,000 in a certificate of deposit that pays 2.12% simple interest. What is her balance after on year

Respuesta :

vintechnology vintechnology

24-08-2022

The balance after one year is $4084.8

How to find the simple interest?

Therefore,

Simple interest = PRT / 100

where,

P = principal
R = rate
T = time

Therefore,

P = $4000

R = 2.12% = 2.12 / 100 = 0.0212

T = 1 year

Thus,

Simple interest = 4000 × 0.0212 × 1

Simple interest = $84.8

Therefore,

balance after one year = 4000 + 84.8 = $4084.8

learn more on interest here: https://brainly.com/question/18440131

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