On a deposit of $290 at a simple interest rate of 2.9%, how much will you earn after 5 years? $42.05 $43.50 $334.50 $420.50

Choice A is correct answer.

Step-by-step explanation:

From question statement, we observe that

Principle, interest rate and time is given. We have to find the interest.

P = $290, r = 2.9 % =.029 and t = 5 years

I = ?

The formula to find the interest is:

I = P*r*t where P is principle, r is interest rate and t is time.

putting the given values in above formula, we get

I = 290*0.29*5

I = $42.05 is the amount that you will earn after 5 years.

your answer would be the third option

Step-by-step explanation:

this is because you multiply 290 by. 29 and then add the 290 to it and there you go.

Hope you get it right!