Marsha deposited $7,000 into a savings account 4 years ago. The simple interest rate is 3%. How much money did Marsha earn in interest?

asked May 13, 2020 102k views

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4 votes

Initial deposit = $7000
Simple interest rate: 3%
0.03*7000=$210
Yearly interest = $210
Over 4 years: $210*4=$840

Mike Collins answered May 20, 2020

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