The amount of money that Marie will have in her account in 7 years is equal to $10,350.
Given the following data:
Interest rate = 2% = 0.02.
Simple interest = $10,000.
Time = 7 years.
Conversion:
Interest rate = [tex]\frac{0.02}{4}[/tex] = 0.005.
How to calculate simple interest.
Mathematically, simple interest is given by this formula:
[tex]I=PRT[/tex]
Where:
- I is the simple interest.
- P is the principal or starting amount.
- T is the time measured in years.
Substituting the given parameters into the formula, we have;
[tex]I=10000 \times 0.005 \times 7[/tex]
I = $350.
Amount of balance;
[tex]A=I+P\\\\A=350+10000[/tex]
A = $10,350.
Read more on simple interest here: brainly.com/question/24341207
