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16 October, 15:06

Katherine invested $140. she earned a simple interest of 4% per year on the initial investment. If no money was added or removed from the investment what was the amount of interst katherine received at the end of two years?

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  1. 16 October, 15:20
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    Interest per year = 4% x $140 = $5.60

    Interest for 2 years = $5.60 x 2 = $11.20

    Total amount at the end of 2 years = $11.20 + $140 = $151.20

    Answer: $151.20
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