Question 1104554
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The other tutor used compound interest instead of simple interest....<br>
With simple interest of 1.3% for 4 years, the interest is 5.2% of the original amount (1.3%, times 4).<br>
i = p*r*t:  interest equals (principal) times (rate) times (time)<br>
{{{i = 500(.013)(4) = 26}}}<br>
The amount of interest is $26.
The percent change in the value of the account is 5.2%.