Tommy has $1,250 to invest. He puts it in a bank account that earns 3% interest annually. How much money will he earn in interest after 7 years?

asked Aug 13, 2022 111k views

19 votes

Tommy has $1,250 to invest. He puts it in

a bank account that earns 3% interest
annually. How much money will he earn
in interest after 7 years?

4.5k points

Please log in or register to add a comment.

3 votes

The answer is 1,512.50

4.6k points

5 votes

Answer:

$1,512.50

Explanation:

1,250 x 0.03 = 37.50

37.50 x 7 = 262.50

1,250 + 262.50 = 1,512.50

Jbcoe answered Aug 18, 2022

by Jbcoe

3.8k points

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

4.7m questions

6.1m answers