Answer:
You will have $560 in the bank after 4 years.
Step-by-step explanation:
So we have the principal, rate and the time, we need to find the interest.
All we have to do is multiply the principal by the rate, and then the product of P×R by the time.
But first, we need to convert the rate into a decimal, so:
500 × 0.03 = 15
15 × 4 = 60
