Question

Compute the amount of interest earned in the following simple interest problem. A deposit of $800 at 3.5% for 7 years = _____.

Answer 1

800*.035 = 28 This is interest per year.
28 * 7 = $196 Total interest earned for seven years
Total money in account is $996

Answer 2

Answer:

$196.00

Step-by-step explanation: