If a person invests $260 at 4% annual interest, find the approximate value of the investment at the end of 5 years

$312.

Step-by-step explanation:

We have been given that a person invests $260 at 4% annual interest. We are asked to find the approximate value of the investment at the end of 5 years.

We will use simple interest formula to solve our given problem.

, where,

A = Amount after t years,

P = principal amount,

r = Annual interest rate in decimal form,

t = Time in years,

Therefore, the approximate value of the investment at the end of 5 years will be $312.

.632

step-by-step explanation:

6 * 1/10 = 3/5

3*0.01 = 0.03

3/5 + 0.03 = .63

2*0.002 = .002

.63 + 0.002 = .632