Find the simple interest earned in a savings account that pays 5% interest if $500 is deposited for 4 years. a. $100, b. $1000, c. $600, d. $500

To calculate simple interest, you first need to multiply the original amount by the percentage of the money which is going to be added.

In this situation, 500 x 0.05 is the interest which will be added each year.
Therefore, $25 will be added each year. Since it is over 4 years, it is (25*4).
So the account will have earned $100 of simple interest.

Although the account will contain $600, it will have EARNED $100 of interest since it started with $500 already.

Answer - A $100 of simple interest will be earned.

First subtract 10 from both side
y^2+6y-16=0
(y+8)(y-2)=0
-8 and 2