Question

I need help ........

Answer 1

Your answer would be:

Formula: I = P * r  * t
P = Principle $5000
R = Rate 2.5% per year, or in decimal form, 2.5/100 =0.025
T = Time involved 7 years time period
I = Interest


Part A:
P = 5000 
R = 2.5%, or .025


Part B: Riley To find the simple interest, we multiply
        I = 5000 * 0.025 * 7
        T = 7
        The Interest is = $875.00

Part C: Investment Balance = Investment + Interest
Usually the interest is added onto the principal t figure out the new amount after 7 years.
          = $5000.00 + $875 
           =  $5875.00
            
Ex. if you borrowed $5000, you would now owed $5875.00




Hope that helps!!!