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Compute the amount of interest earned in the following simple interest problem. A deposit of $800 at 3.5% for 7 years = _____.
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Compute the amount of interest earned in the following simple interest problem. A deposit of $800 at 3.5% for 7 years = _____.

User ItsKarma
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2 Answers

4 votes

Answer:

$196.00

Explanation:

User Romina Liuzzi
by
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3 votes
800*.035 = 28 This is interest per year.
28 * 7 = $196 Total interest earned for seven years
Total money in account is $996
User Odedsh
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7.9k points
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