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John put $2000 into a savings account that earns 7% simple interest annually. After 5 years, how much money will John have?

John put $2000 into a savings account that earns 7% simple interest annually. After 5 years, how much money will John have?
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John put $2000 into a savings account that earns 7% simple interest annually.

After 5 years, how much money will John have?

asked
User Janaka Bandara
by
8.2k points

1 Answer

3 votes
7% of $2000 is $140
$140x5= $700
$2000 + $700 is $2700

John will have $2700
answered
User LeeJB
by
7.6k points
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