How much would adam have to deposit in a savings account to earn $100 in interest over 4 years at a 5% simple annual interest rate?

$500

Step-by-step explanation:

The formula to calculate the simple interest is given by :-

, where P is the principal amount, r is the rate of interest ( in decimal ) and t is the time period ( in years).

Given : I= $100   ;  t= 4 years   ; r= 5%=0.05

Substitute all the values in the above formula , we get

Hence, Adam have to deposit $500.

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