SOLUTION: Lynn has $5,000 in a money market account that pays 4% simple interest yearly. (a) How much interest will be earned at the end of the first year? (b) What is the total amount of mo

Question 934498: Lynn has $5,000 in a money market account that pays 4% simple interest yearly. (a) How much interest will be earned at the end of the first year? (b) What is the total amount of money that will be in the account at the end of the year?
Answer by TimothyLamb(4379) (Show Source): You can put this solution on YOUR website!
interest earned:
5000 * 0.04 = 200
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total at the end of the year:
5000 * 1.04 = 5200
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