Answered

Discover the answers to your questions at Westonci.ca, where experts share their knowledge and insights with you. Discover reliable solutions to your questions from a wide network of experts on our comprehensive Q&A platform. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

Josie has $100 in a savings account with a 2% interest rate. Using the formula for simple interest, how much will she earn in interest after 7 years?

Sagot :

abiolataiwo2015

Based on the information given the amount she will earn in interest after 7 years is $14.

We would be using Simple interest formula to determine the interest earn.

Using this formula

Simple interest=Principal×Interest rate×Time

Where:

Principal=$100

Interest rate=2%

Time=7 years

Let plug in the formula

Simple interest=$100×2%×7

Simple interest=$14

Inconclusion the amount she will earn in interest after 7 years is $14.

Learn more about simple interest here: https://brainly.com/question/2294792

Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.