Answer:
5,617.92
Step-by-step explanation:
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 4%/100 = 0.04 per year.
Solving our equation:
A = 4256(1 + (0.04 × 8)) = 5617.92
A = $5,617.92
The total amount accrued, principal plus interest, from simple interest on a principal of $4,256.00 at a rate of 4% per year for 8 years is $5,617.92.