Pierre invested $7500 in a savings account with a yearly interest rate of 3% for 14 years. How much simple interest did he earn?

Question

02-06-2017
Mathematics

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Pierre invested $7500 in a savings account with a yearly interest rate of 3% for 14 years. How much simple interest did he earn?

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mreijepatmat mreijepatmat · Answer 1 · 2017-06-02T19:11:05+02:00

mreijepatmat mreijepatmat

02-06-2017

yearly interest return = 7500 x 3% = 7500 x 0.03 = 225

Since it's a simple interest then the amount of total interest will be
14 x 225 =$3150

(This is not asked by the problems. It's just indicatif: the total money will be 7500 + 3150 = $10,650)

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rintalaanthony rintalaanthony · Answer 2 · 2019-08-08T03:37:02+02:00

rintalaanthony rintalaanthony

08-08-2019

Answer:

3150

Step-by-step explanation:

Apex

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