brendan has $200 in a saving account with a 1% interest rate. using the formula for simple interest, how much will he earn in in
terest after 7 years?
1 answer:
answer:
$14
step-by-step explanation:
the formula for simple interest is-
i=prt
meaning interest=principal (the starting amount of money) * rate * time
=200*0.01*7
(we have to turn 1% into a decimal so 1/100=0.01)
=14
i=14
good luck :)
i hope this helps
brainliest would be highly appreciated
have a nice day!
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