Question

$850 invested at 4% for 10 years. Calculate interest.

Answer 1

Answer:

The interest after 10 years on the principal amount is $340.

Step-by-step explanation:

Principal amount = $850

Rate of interest = 4%

Time Period = 10 years

Now, Simple Interest =  $\frac{P \times R \times T} {100}$

or, S I =  $\frac{850 \times 4 \times 10} {100}$  = $340

So, the interest after 10 years on the principal amount is $340.