Leon deposit $400 into an account that pays simple interest at the rate of 2% per year how much interest will she be paid in five years

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Leon deposit $400 into an account that pays simple interest at the rate of 2% per year how much interest will she be paid in five years

Simple interest formula= principle x rate x time

principle= $400

rate= 2% or 0.02

time= 4 years

so, SI= 400*0.02*4

SI= $ 32

Boris will pay an interest amount of $32

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A = $4,480.00

Step-by-step explanation:

Equation:

A = P(1 + rt)

Calculation:

First, converting R percent to r a decimal

r = R/100 = 2%/100 = 0.02 per year.

Solving our equation:

A = 4000(1 + (0.02 × 6)) = 4480

A = $4,480.00

TOTAL MONEY:4,480

INTEREST PAID:480

(there is a difference between them if you look closely)

Hope this helps 🙂

The interest to be paid in the first year is $80

Step-by-step explanation:

Simple Interest = p×R×T / 100

WHERE p= principal R= rate and t=times in year

we are given principal (p) = $4000

Rate (R) = 2 and Time T=1

We can now proceed to plug in our values in the formula

Interest = P×R×T / 100

=$4000×2×1 / 100 (The two zeros at the denominator will cancel-out two zeros at the numerator, we will be left with just 0 zero at the numerator)

=40 × 2×1

=$80

Therefore the interest to be paid in the first year is $80

2% per year

5 years

5 * 2 = 10 (10%)

4000 * .10 = 400 ($400 in the first 5 years)

480 will be the answer

$480

Step-by-step explanation:

Simple interest (I) is calculated as Principal x Rate x Time

From the question, P= 4000

Rate= 2% = 2/100 = 0.02

Time= 6 years

Then slot the values into the formula

I= 4000x 0.02x 6

=$480

In the first six years, charlie will be paid $480 as interest.

I hope you understand this, please mark as brainliest answer.