jane recieved\$875 from her grandma party. she put the money in a bank with a 4% simple interest rate. how much interest will she have earned after 7 years?

Solution

jane recieved$875 from her grandma party. she put the money in a bank with a 4% simple interest rate. how much interest will she have earned after 7 years?

Solution

Interest : 245

Solution steps

Translate the problem into an equation:

I = 875 \cdot 0.04 \cdot 7

Simplify

I = 875 \cdot 0.04 \cdot 7

Interest : 245

Popular Examples

ella has 10 apples. emma takes 5. how many are left Find the area of a circle whose circumference is 21.98 meters. Use 3.14 for pi If necessary, round to the nearest hundredth.Siobhan deposits 1200 into a savings account that pays 5.2% annual interest compounded monthly. What will be the balance after 4 years? Round to the nearest cent.A couple deposits 21,000 into an account earning 6% annual interest for 15 years. Calculate the future value of the investment if the interest is compounded weekly. Round your answer to the nearest cent.7 more than a number