Differences between classic clothing and fads

Classic means something that is an original and has timeless appeal. A fad is something that last for like under a year or two.

Fig-git spinner = Fad

Lego = Classic

answer:

tyler's $1,000 investment will be worth $1,240 after 6 years, invested at 4% interest rate.

the problem gives the following relevant data:

principal = $1000

interest rate = 4% simple interest

term or time period = 6 years

since simple interest is given, we need to use the simple interest formula;

i = p x r x t

where: p is the principal, r is the interest rate, and t is the time the money will be invested.

i = $1000 x 4% x 6yrs

i = $1000 x 0.04 x 6

i = 40 x 6

i = 240   ==> interest earned after 6 years is $240.

total investment = principal + interest

t.i. = $1,000 + $240

t.i. = $1,240   ==> the value of tyler's investment after 6 years.

explanation: