3 years ago

$700 at 8% for 6 years

1 answer:

3 0

$~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$700\\ r=rate\to 8\%\to \frac{8}{100}\dotfill &0.08\\ t=years\dotfill &6 \end{cases} \\\\\\ I=(700)(0.08)(6)\implies I=336~\hfill \stackrel{\stackrel{balance}{700+336}}{1036}$

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