Question

$1,000, 7% , 2years

Answer 1

$1,140, or $1,144.9

Explanation:

70 is 7% of 1,000

70 x 2 = 140

140 + 1,000 = 1,140

Or, if you mean 7% compounded annually then....

1,070 after first year.

7% of 1,070 = 74.9

74.9 + 1,070 = 1,144.9