A savings account earns 7% annual simple interest. The principal is $1,800. What is the interest after 6 years? What is the balance?

Gonzalo Dambra asked Dec 3, 2022

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27 votes

A savings account earns 7% annual simple interest. The principal is $1,800. What is the interest

after 6 years? What is the balance?

Gonzalo Dambra asked Dec 3, 2022

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22 votes

Answer:

The interest is $756.

The balance is $2,556.

Explanation:

I = Prt

I = $1,800 * 0.07 * 6

I = $756

The interest is $756.

$1800 + $756 = $2,556

The balance is $2,556.

Ergec answered Dec 7, 2022

by Ergec

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