Question

Mark invested $3,200 at 7% simple interest. How much interest did his account earn at the end of the four years

Answer 1

`~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$3200\\ r=rate\to 7\%\to (7)/(100)\dotfill &0.07\\ t=years\dotfill &4 \end{cases} \\\\\\ I = (3200)(0.07)(4) \implies I = 896`