Question

Morgan invested $1,200 in an account that pays 6% annual simple interest. Morgan will not make any additional deposits or withdrawals. How much interest will Morgan earn on her investment at the end of 7 years?

Answer 1

Explanation:

Simple interest per year = $17,500 (0.0825) = $1,443.75 Simple interest = $8,662.50 Joseph Harris is considering an investment that pays 6.5 percent annually