Question

A deposit of 800 at 3.5% for seven years 

Answer 1

Interest = Principal x Rate x Time
($2,840)

Explanation:

interest earned on a deposit of $800 at 3.5% interest for 7 years, you can formula: Interest = Principal x Rate x Time

In this case, the interest earned would be:

Interest = $800 x 0.035 x 7 = $2,040

So, after 7 years the deposit would be worth $800 + $2,040 = $2,840.