SOLUTION: You put $4,750 into a bank paying 1.4% simple interest per year. If you don�t take anything out of the account, how much do you have after two years?

Question 307740: You put $4,750 into a bank paying 1.4% simple interest per year. If you don�t take anything out of the account, how much do you have after two years?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
principal you put = $4750
rate of interest = 1.4 %
time = 2 years
type of interest = simple
Simple interest = p r t / 100
= 4750 * 1.4 * 2 / 100
= 133
Amount at the end of 2 years = principal + interest
= 4750 +133= 4883
You will have $ 4883 at the end of 2 years

RELATED QUESTIONS
You put $4,750 into a bank paying 1.4% simple interest per year. Suppose you don�t take... (answered by rfer)

You put $4,750 into a bank paying 1.4% simple interest per year. Suppose you don�t take... (answered by sofiyac)

You put $4,750 into a bank paying 1.4% simple interest per year. Suppose you don't take... (answered by nerdybill)

Rhonda Sanchez put $350 into a savings account paying 3 3/4% simple interest per year.... (answered by ewatrrr)

Rhonda sanchez put $350 into a savings account paying 3.75% simple interest per year. How (answered by lynnlo)

Recall that a formula bank account earning compound interest is A=P(1+r/m)^mt - given (answered by solver91311)

IF BILL INVESTED $12,000 IN A SIMPLE ACCOUNT EARNING... (answered by solver91311)

You deposit $790 into an account paying 4.1% simple interest. (a) How much interest... (answered by ewatrrr,ikleyn)

If you put $5,000 each year into a savings account that pays interest at the rate of 4% a (answered by ewatrrr)