SOLUTION: If a person invests $260 at 4% annual interest, find the approximate value of the investment at the end of 5 years?

Question 1137487: If a person invests $260 at 4% annual interest, find the approximate value of the investment at the end of 5 years?
Answer by ikleyn(52765) (Show Source): You can put this solution on YOUR website!
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If a person invests $260 at 4% annual interest, find the approximate value of the investment at the end of 5 years?
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Assuming simple interest, the value of the investment at the end of 5 years is


260*(1+0.04*5) = 260*(1 + 0.2) = 260*1.2 = 312 dollars.

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