Answer:
Danny will have 12,450 in his savings account
Step-by-step explanation:
P is the principal amount, $10000.00.
r is the interest rate, 3.5% per year, or in decimal form, 3.5/100=0.035.
t is the time involved, 7....year(s) time periods.
So, t is 7....year time periods.
To find the simple interest, we multiply 10000 × 0.035 × 7 to get that:
The interest is: $2450.00
10000.00 + 2450.00 = 12450.00.
