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David invests $10,000 in a savings account that pays 3.5% simple interest.If David makes no withdrawals or deposits to the account,how much will be in the account after 7 years

Guest Feb 28, 2017
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David invests $10,000 in a savings account that pays 3.5% simple interest.If David makes no withdrawals or deposits to the account,how much will be in the account after 7 years

 

$10,000 x 3.5/100 =$350 simple interest for 1 year.

$350 x 7 =$2,450 simple interest for 7 years.

$10,000 + $2,450 =$12,450 Balance in the account after 7 years.

Guest Feb 28, 2017

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