Question

Investment question Part 2: $3,500 is invested at 7%. How much money

will be in the account after 17 years?

Answer 1

$7665

Step-by-step explanation:

simple interest: principal * rate (%) * time (years)

Given:

principal: $3,500

rate: 7%

time: 17 years

Solve for interest received:

3,500 * 7% * 17

$4165

Total money in account:

$4165 + $3,500

$7665