Answer:
FV= $12,450
Explanation:
Giving the following information:
David invests $10,000 in a savings account that pays 3.5% simple interest.
To calculate the future value, we need to use the following formula.
FV= PV*(1+i*n)
n= 7
i= 0.035
PV= 10,000
FV= 10,000*(1+0.035*7)
FV= $12,450