Solution

Determine the simple interest earned on 10, 000 after 10 years if the APR is 7%.

Solution

Solution steps
Translate the problem into an equation:
Simplify

Popular Examples

If a store offers a 15% discount on an item, and the original price is 80, what is the final price after the discount?The radius of a circle is 14 m. Find its area in terms of pipi.Jocelyn invested 390 in an account paying an interest rate of 2.7% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 18 years?Gabriel invested 17,000 in an account paying an interest rate of 3% compounded annually. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach 26,600?Arianna opened a savings account and deposited 500.00 as principal. The account earns 5% interest, compounded monthly. What is the balance after 9 years?