Answered

Marco deposited $500 in a savings account earning 4% interest over 5 years.


What was the total amount of interest earned at the end of 5 years?


A.

$40


B.

$50


C.

$100


D.

$200

Verified Answer :

K15Marie

y=500(.96)^5

y=ab^x

a will always be the starting number
b will always be a percent turned to a decimal
x will always be the time 

y=500(.96)^5

The answer is around $400

500-400= 100

Answer is C

Interest = P R T / 100
I = 500 4 5 / 100
I = 10,000 /100
I = 100

In short, Your Answer would be Option C

Hope this helps!

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