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$250 is invested in the bank that pays 7% simple interest. Calculate the amount of money in the account after 1 year
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$250 is invested in the bank that pays 7% simple interest. Calculate the amount of money in the account after 1 year

User Petr Nalevka
by
6.1k points

2 Answers

3 votes
A=p(1+rt)
A=250×(1+0.07×1)
A=267.5
User Amulya Acharya
by
6.1k points
6 votes
250*1.07=267.5
=267.50
User Eric Guo
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5.3k points
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