Steve opens a bank account with a simple annual interest rate of 5%. after four year, how much interest will steve earn on an initial deposit of $800?
$160
$140
$60
$40

steve will earns $160 as interest .

step-by-step explanation:

formula

as given

steve opens a bank account with a simple annual interest rate of 5%.

steve initial deposit is $800   for four year .

principle = $800

rate = 5 %

time = 4 years

put all the values in the formula

simple interest = $ 160

therefore steve will earns $160 as interest .

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step-by-step explanation: