document.write( "Question 1145642: You deposit $840 in a savings account that earns a simple in n tree interest rate of 4.5% per year. You want to keep the money in the account for 4 years. How much interest will you earn? \n" ); document.write( "

Algebra.Com's Answer #766926 by ikleyn(52781) $\"\"$ $\"About$

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document.write( "For the simple interest, the formula is\r\n" );
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document.write( "    I = P*r*t,\r\n" );
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document.write( "where I is interest value, P is the initial amount (deposit); r is the annual rate and \"t\" is time (in years).\r\n" );
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document.write( "To find \"I\" in your case, substitute P = 840 dollars;  r = 0.045 (annual percentage rate as decimal, and t = 4 years.\r\n" );
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document.write( "Then calculate  I = 840*0.045*4.\r\n" );
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document.write( "You may use your calculator/computer.\r\n" );
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\n" ); document.write( "\n" ); document.write( "Happy calculations (!)\r
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