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$800 deposited in a savings account earns 3% simple interest a year will earn $168 in interest in 7 years

$800 deposited in a savings account earns 3% simple interest a year will earn $168 in interest in 7 years
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1 vote
$800 deposited in a savings account earns 3% simple interest a year will earn $168 in interest in 7 years

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User Chandrakant Thakkar
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8.5k points

2 Answers

2 votes
800*3=2,400+168*7=1796
answered
User Vozaldi
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7.6k points
4 votes
This is true.

800 * 0.03 * 7 = 968
968 - 800 = 168 interest
answered
User Judine
by
8.5k points
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