Kenzie7851 Kenzie7851
  • 03-03-2021
  • Mathematics
contestada

If you put $750 into a savings account that earns 6.2%, how much interest will you receive at the end of 7 years?

Respuesta :

JeanaShupp
JeanaShupp JeanaShupp
  • 05-03-2021

Answer: You will receive $ 325.5 as interest at the end of 7 years.

Step-by-step explanation:

Given: Principal amount = $750

Rate of interest = 6.2% = 0.062

Time = 7 years

Interest = Principal x Rate x Time

Inetrest = 750 x 0.062 x 7

= $ 325.5

Hence, you will receive $ 325.5 as interest at the end of 7 years.

Answer Link

Otras preguntas

2 groups of 10 tiles and 2 groups of 3 tiles. Which explains whether or not this model accurately shows 26 ÷ 2? It does because 26 = 20 + 6, and the model show
What is the monthly payment for a ​$14000 loan for 7 years with an annual interest rate of 3.3​%?
solve the formula F= ma for a
What are the four stages of BIM?
how would I calculate this
the water temperature off the shore of north america near the current by canada is much colder than the water off the coast of north america near mexico. use yo
What is the main reason Nwoye likes the story of the Earth and the Sky? It is appropriate for children and women. It contains no violence. It is about nature. I
4. One advantage of biodiversity in an ecosystem is.... 1) guarantees that the largest organisms will dominate the area 2) ensures a large amount of identical g
Which saying best describes the greenhouse effect's impact on our planet?
Mrs. Crown gave a typing test to her students. She recorded each student's average typing speed, in words per minute. The dot plot below shows the recorded data