Solve.
-Nathan invested his $5000 poker winnings in a 4 year Certificate of Deposit at a rate of 0.04. Use the formula I = Prt to find the amount of interest Nathan's investment will earn.
A) $800
B) $5,200
C) $200
D) $5,800

Question

Quizplus · Accepted Answer

The interest earned can be calculated using the formula I = Prt, where P is the principal amount ($5000), r is the rate (0.04), and t is the time in years (4). Thus, I = $5000 * 0.04 * 4 = $800.

Solve. -Nathan Invested His $5000 Poker Winnings in a 4 Year