2. If a student saves 800.00 with a bank that offers a simple interest rate of 7 % per annum, ca

Question

Allison Knapp · Answer

Here we are asked how much simple interest is earned if $7 ,600 is invested at 8 % for 7 years.

Catt Huth · Answer

We want to find a simple interest earned over a period of five years. So we&#x27;re going to start wi

Mukesh Devi · Answer

Now in this problem, we are given that if you deposit $7 ,000 this is the amount deposited in th

Catt Huth · Answer

Again, we&#x27;re looking for simple interest for one year. So we&#x27;re just going to use our formula, I

Mukesh Devi · Answer

Now, in this problem it says that what principal will amount to 2600 in 3 years at 10 % simple i

2. If a student saves 800.00 with a bank that offers a simple interest rate of \( 7 \% \) per annum, calculate the amount saved at the end of 6 years.