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iris [78.8K]
3 years ago
6

Mark currently has a balance of $973.70 in an account he has held for 17 years. He opened the account with an initial deposit of

$700. What is the simple interest on the account? (3 points)
Business
1 answer:
IrinaK [193]3 years ago
5 0

Answer:

Simple interest= $273.7

Explanation:

<em>Simple interest is the interest on earned on the principal amount invested only. Kindly note that under this system, only the principal amount invested would earn interest over the course of the investment period</em>

<em> Simple interest is calculated as follows:</em>

Simple interest = Principal × Rate × Time

or

Simple interest = Future sum - Principal amount invested

DATA

Future sum- $973.70

Principal amount invested-700

Simple interest = 973.70 - 700=273.7

Simple interest= $273.7

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A higher TIE number shows that a company has enough cash after paying its obligations to continue to invest in the business.

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Answer:

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Solution

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In this case your roommate made an Interpersonal utility comparison.

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Robert did the right thing, he reported a possible error that could have harmed other people and eventually could have been a major legal cost for the company.

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