SOLUTION: faith invests $4,500 in an account that pays 4 percent simple interest. How much money will she have at the end of eight years?

SOLUTION: faith invests $4,500 in an account that pays 4 percent simple interest. How much money will she have at the end of eight years?

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Question 232455: faith invests $4,500 in an account that pays 4 percent simple interest. How much money will she have at the end of eight years?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
i=Prt
i=4500*.04*8
i=$1440 interest earned
4500+1440=$5940 total after 8 yrs

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