1. **State the problem:**
Riley invests money in a savings account with 4% simple interest per year. After 5 years, the total interest earned is 360.
We need to find the total value of the investment after 5 years.
2. **Formula for simple interest:**
$$I = P \times r \times t$$
where
- $I$ is the interest earned,
- $P$ is the principal (initial investment),
- $r$ is the annual interest rate (as a decimal),
- $t$ is the time in years.
3. **Given values:**
- $I = 360$
- $r = 4\% = 0.04$
- $t = 5$
4. **Find the principal $P$:**
$$360 = P \times 0.04 \times 5$$
5. **Simplify the right side:**
$$360 = P \times 0.2$$
6. **Divide both sides by 0.2 to isolate $P$:**
$$P = \frac{360}{0.2}$$
7. **Calculate $P$:**
$$P = 1800$$
8. **Find the total value after 5 years:**
Total value = Principal + Interest
$$= 1800 + 360 = 2160$$
**Final answer:**
The total value of Riley's investment after 5 years is **2160**.
Simple Interest 8Fb74F
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