Assuming a simple interest scenario with a $10,000 investment at a 5% annual interest rate, Riley would earn $3,500 in interest, resulting in a total investment value of $13,500 after 7 years.
To determine the interest earned and the total investment value after 7 years, we need more information about the interest rate and the type of investment (simple interest, compound interest, etc.). Assuming a simple interest scenario, the formula for calculating interest is:
Interest = P * r * t
Where:
P is the principal amount (initial investment),
r is the annual interest rate (as a decimal),
t is the time the money is invested in years.
Additionally, the total investment value (A) after t years with simple interest is given by:
A = P + Interest
To provide a numerical example, let's assume Riley invested $10,000 at an annual interest rate of 5% for 7 years:
P = $10,000, r = 0.05, t = 7
Interest = 10000 * 0.05 * 7 = $3,500
A = 10000 + 3500 = $13,500
Therefore, Riley would earn $3,500 in interest, and her total investment would be worth $13,500 after 7 years.