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You deposit $200 in a savings account that pays a simple interest rate of 4.5% per year. How much interest will you earn after 7 years?

You deposit $200 in a savings account that pays a simple interest rate of 4.5% per year. How much interest will you earn after 7 years?
asked 11.3k views
4 votes
You deposit $200 in a savings account that pays a simple interest rate of 4.5% per year. How much interest will you earn after 7 years?

asked
User Nico AD
by
7.7k points

1 Answer

3 votes

Answer:

$63.00

Explanation:

$200.00× 0.045=9

9×7=63

answered
User Zhangjinzhou
by
7.9k points
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