Answer:
Total value: $2,100
Interest: $600
Step-by-step explanation:
We'll use the simple interest rate: A=P(1+rt).
A= final amount
P=initial principal interest
r=annual interest rate
t=time (years)
So all we have to do is plug in the values given from the question into the formula, which would look like this:
A=1,500(1+.10x4)
A=1,500(1.40)
A=2,100
Then to find the interest we subtract the final amount (2,100) by the initial amount (1,500), 2,100-1,500=600.
