Answered

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To be able to buy a new computer amanda decides to save for 4 years she opens a saving account with 300$ the account pays simple interest at an annual rate of 2% she doesn't make any more deposits.

Sagot :

The total interest that amanda will earn is $24 and the total amount in the account including the interest is $324

Given that,

With $300, Amanda starts a savings account that pays basic interest at a 2% yearly rate. She plans to save for four years.

Total interest = PRT/100 where,

P  is Investment amount  = $ 300

R is Rate of interest = 2

T is Time in years = 4

Simple Interest = PRT/100 = (300 × 2 × 4 )/100 = 24

Therefore, Amanda will earn $24 total simple interest.

Total Amount = Principal + SI =300 + 24 =324

Therefore, The total amount in the account will be $324

To learn more about Simple interest click here:

brainly.com/question/22621039

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