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If buddy invests $600 in a savings account that pays 3% interest. How much interest will he make in 7 years

User Bamqf
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1 Answer

4 votes

Answer:

$126

Explanation:

To calculate the interest Buddy will make in 7 years on a $600 investment at 3% interest, we can use the formula:

Interest = Principal x Rate x Time

where Principal is the initial investment, Rate is the interest rate, and Time is the length of time the investment is held.

Substituting the given values into the formula, we get:

Interest = $600 x 0.03 x 7 years

Simplifying the expression, we get:

Interest = $126

Therefore, Buddy will make $126 in interest over 7 years on a $600 investment at 3% interest.

User HomeBrew
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