Nikhil invests all of his $ 350 at a rate of 3% per year simple interest.Calculate the total value of this investment after 7 ye
ars
1 answer:
answer:
423.5
step1.
you find the value of 3% by dividing over 100 because percentage is over 100 so 3/100
step2
multiply by $350
so 3/100×350=10.5
step3
we are told the investment is for 7years so we multiply 10.5 by 7 because 10.5 is only for 1year
10.5×7=73.5
step4
add the 73.5 to the 350 then you have your answer
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Step-by-step explanation:
Givens
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