Rufus invest 10,000 in a savings account that pays 3.5 simple interest each year. If Rufus makes no withdrawal or deposits to th

Question

3 years ago

5

e account how much money will be in the account after 7 years ?

1 answer:

IgorC [24] · Answer 1 · 2022-10-05T13:58:27+03:00

IgorC [24]3 years ago

4 0

Answer:

$1272.28

Step-by-step explanation:

Our equation is

$p*(1+x)^{t}$ , with p being the starting amount, x being the interest rate, and t being the time. Plug our variables in to get

$1000*(1+0.035)^{7}$ = around 1272.28