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You deposit $750 into a savings account Thats pays 2.75% simple interest for 4 years. How much interest was earned?

You deposit $750 into a savings account Thats pays 2.75% simple interest for 4 years. How much interest was earned?
asked 185k views
3 votes
You deposit $750 into a savings account Thats pays 2.75% simple interest for 4 years. How much interest was earned?

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User Konstantin Samarin
by
7.8k points

2 Answers

4 votes
FV=pv(1+ it)
FV= 750(1+ .0275(4))
FV= 750(1+.11)
FV=832.50
Interest is 832.50-750
82.50.
answered
User Entity
by
8.6k points
6 votes

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answered
User Lukas Hajdu
by
8.2k points
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