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Isabella earn a simple interest on her saving account. She deposits $1200 into her account and will have $1344 after 2 years. How much will Isabella have in her account in 7 years?
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Isabella earn a simple interest on her saving account. She deposits $1200 into her account and will have $1344 after 2 years. How much will Isabella have in her account in 7 years?

User Aquinas
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1 Answer

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If she deposits $1200 and it earns an interest of $144 over 2 years, then she earns $72 per year. Meaning that after 7 years her account will have a balance of $1704


$1344 - $1200 = 144

144/2 = 72

72 * 7 = 504

$1200 + $504 = $1704



User Mcnesium
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