What is the simple intrest on $160 invested at 7% per year for three years

17,063 views

0 votes

2.6k points

Your comment on this question:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Email me at this address if my answer is selected or commented on:Email me if my answer is selected or commented on

Privacy: Your email address will only be used for sending these notifications.

16 votes

Answer:

130.6 apporexiatly

Explanation:

t years, s simple interest, r rate.

s(r/100+1)^t

x(1.07)^3 = 160

x = 130.6

Cid answered Apr 14, 2022

by Cid

2.8k points

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

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

1.6m questions

2.0m answers