Sure, here's how you can calculate it:

Step 1: Understand the problem. Amanda has $5200 in a savings account that earns 4% simple interest annually. We need to find out the value of her account in 5 years.

Step 2: Identify the formula for simple interest which is I = PRT, where I is the interest, P is the principal amount (initial amount), R is the rate of interest, and T is the time in years.

Step 3: Substitute the given values into the formula. In this case, P = $5200, R = 4/100 = 0.04 (since the rate is given in percentage, we divide by 100 to convert it to a decimal), and T = 5 years.

Step 4: Calculate the interest. I = PRT = $5200 * 0.04 * 5 = $1040.

Step 5: Add the interest to the initial amount to get the total value of the account in 5 years. $5200 + $1040 = $6240.

So, the value of Amanda's account in 5 years will be $6240.

Question

Sure, here's how you can calculate it:

Step 1: Understand the problem. Amanda has $5200 in a savings account that earns 4% simple interest annually. We need to find out the value of her account in 5 years.

Step 2: Identify the formula for simple interest which is I = PRT, where I is the interest, P is the principal amount (initial amount), R is the rate of interest, and T is the time in years.

Step 3: Substitute the given values into the formula. In this case, P = $5200, R = 4/100 = 0.04 (since the rate is given in percentage, we divide by 100 to convert it to a decimal), and T = 5 years.

Step 4: Calculate the interest. I = PRT = $5200 * 0.04 * 5 = $1040.

Step 5: Add the interest to the initial amount to get the total value of the account in 5 years. $5200 + $1040 = $6240.

So, the value of Amanda's account in 5 years will be $6240.

Knowee AI · Accepted Answer

Sure, here's how you can calculate it:

Step 1: Understand the problem. Amanda has $5200 in a savings account that earns 4% simple interest annually. We need to find out the value of her account in 5 years.

Step 2: Identify the formula for simple interest which is I = PRT, where I is the interest, P is the principal amount (initial amount), R is the rate of interest, and T is the time in years.

Step 3: Substitute the given values into the formula. In this case, P = $5200, R = 4/100 = 0.04 (since the rate is given in percentage, we divide by 100 to convert it to a decimal), and T = 5 years.

Step 4: Calculate the interest. I = PRT = $5200 * 0.04 * 5 = $1040.

Step 5: Add the interest to the initial amount to get the total value of the account in 5 years. $5200 + $1040 = $6240.

So, the value of Amanda's account in 5 years will be $6240.

Amanda has $5200 in a savings account that earns 4% simple interest annually. What is the value of her account in 5 years?

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