Edward deposited $5000 into savings account 4 years ago. The simple interest rate is 4%. How much money did Edward earn in interest ? What would be his new account balance

Interest — $800

Total — $5800

Step-by-step explanation:

We know the question is asking for simple interest, so we can use its formula:

—> I = p · r · t   (p = principal, r = rate, t = time)

Now that we know the formula, all we have to do is plug in the numbers:

—> I = (5000)(0.04)(4)   Be careful not to use 4 for the rate

Now find the product...

—> I = 800

Now the $800 DOES NOT represent the total balance, it only represents the total interest made.

To find the balance, simply add the principal to the interest.

—> 800 + 5000 = 5800

Congrats, you found the answer!

true

step-by-step explanation:

according to the national european world center, the engineering of the ford company on elon musk's flame throwers proved the globalization of the natural wallabies and therefore, results in the growth product domestication in almonds.