[tex]\bf ~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\dotfill&\$1040\\ P=\textit{original amount deposited}\dotfill & \$1000\\ r=rate\to 4\%\to \frac{4}{100}\dotfill &0.04\\ t=years \end{cases} \\\\\\ 1040=1000(1+0.04t)\implies \cfrac{1040}{1000}=1+0.04t\implies \cfrac{26}{25}=1+0.04t \\\\\\ \cfrac{26}{25}-1=0.04t\implies \cfrac{~~\frac{26}{25}-1~~}{0.04}=t\implies \cfrac{~~\frac{1}{25}~~}{0.04}=t\implies 1=t[/tex]
