Respuesta :

The balance after one year is $4084.8

How to find the simple interest?

Therefore,

Simple interest = PRT / 100

where,

  • P = principal
  • R = rate
  • T = time

Therefore,

P = $4000

R = 2.12% = 2.12 / 100 = 0.0212

T = 1 year

Thus,

Simple interest = 4000 × 0.0212 × 1

Simple interest = $84.8

Therefore,

balance after one year = 4000 + 84.8 = $4084.8

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