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An investor deposits $825 into a retirement account that pays 6.5% simple annual interest. If no additional investment is made, how much interest should the investor expect at the end of 4 years?

Respuesta :

Answer:

1039.5

Step-by-step explanation:

6.25% of 825 = 53.625

53.625 x 4 =  214.50

825 + 214.50 = 1039.5

Parrain

Based on the amount invested and the rate of interest, the investor can expect to have $214.50 in interest.

The investor deposited $825 which will increase at a simple rate of 6.5%.

This interest in dollars is:

= 6.5% x 825

= $53.625

In 4 years therefore, the total interest will be:

= 53.625 x 4

= $214.50

In conclusion, the investor should expect interest of $214.50

Find out more on simple interest at https://brainly.com/question/25793394.

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