40 points David invests $10,000 in a savings account that pays 3.5% simple interest. If David makes no withdrawals or deposits t
o the account, how much will be in the account after 7 years? O $2,450 O $11,750 O $12,450 O Not Here
1 answer:
Answer:
FV= $12,450
Step-by-step explanation:
Giving the following information:
David invests $10,000 in a savings account that pays 3.5% simple interest.
<u>To calculate the future value, we need to use the following formula.</u>
FV= PV*(1+i*n)
n= 7
i= 0.035
PV= 10,000
FV= 10,000*(1+0.035*7)
FV= $12,450
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