Question

Piper deposited $734.62 in a savings account that earns 2.6% simple interest. What is Piper's account balance after seven years?

Answer 1

$868.32

Explanation:

First you need to multiply 734.62 by 2.6%.

734.62 x 0.026 = 19.1

Then we need to multiply that by 7 (because 7 years).

19.1 x 7 = 133.7

Then add that to the initial deposit.

734.62 + 133.7 = 868.32

So after 7 years in a savings account your $734.62 would become $868.32.

Answer 2

Piper's account balance after 7 years = 734.62+133.70084=868.32084 dollars

Explanation:

first see te interest :

A=prt (p is the deposited amount, r is the rate , t is the time)

A=734.62 *(2.6/100)* 7

A=133.70084

Piper's account balance after 7 years = 734.62+133.70084=868.32084 dollars