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A principal of $950 is invested in an account at 7% per year simple interest. What is the account total after 5 years? A. $1332.42 B. $1316.27 C. $1256.50 D. $1282.50
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A principal of $950 is invested in an account at 7% per year simple interest. What is the account total after 5 years?

A. $1332.42
B. $1316.27
C. $1256.50
D. $1282.50

User Josef Ginerman
by
8.5k points

1 Answer

5 votes
I=950×0.07×5
=332.5
A=950+332.5=1,282.5
User Kuncheria
by
8.6k points
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