$500 at a 7% simple interest rate over 4years

So profit will be $140 and he will have a total of $640 after 4 years

Step-by-step explanation:

We know the formula for Interest rate i.e.

A = PRT             ............(i)

here in this equation is P is the money invested

R is the rate at which it is invested

T is the time for which money is invested

A is the amount we get after that period of time

Now in the question we are given

R= 7%

P=$500

T=4 years

Now Putting these values in equation (i)

A=PRT

Putting values gives

A = (500)*(7%)*(4)

A

A

A=35*4

A=$140

So he will gain a profit of $140

Total money he will have after 4 years = 500 + 140

                                                                 =$640

So profit will be $140 and he will have a total of $640 after 4 years

what is the question?

step-by-step explanation: