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Valentina invested $6500 in a savings accoint with a yearly interest rate of 4% for 7 years. How much simple interest did she earn?

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User Potashin
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2 Answers

1 vote

Answer: 2600

Step-by-step explanation:

answered
User ManWithBear
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The equations is A= P(1 + r)^t, where P is the amount invested, r is the interest rate, and t is the time. So A, your total amount in the bank account including interest, is equal to 6500(1.04)^7, which is The answer is $8553.56 (that's what I rounded to). That is your total, so subtract 6500 from that number and you'll get the interest amount.

answered
User Swagrov
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8.1k points
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