Question

You open up a bank account with $5000. You leave it there, and the bank informs you they will add 5% annually in interest. How much money will you have earned in interest in 7 years?

A. $1850
B.$175
C.1750
D.185

Answer 1

Assuming that this is referring to simple interest, your answer is C) 1,750.

Explanation:

`5000` x
`0.05` =
`250`

`250` x
`7` =
`1750`