Question

Find the simple interest on a $2,450 principal deposited for six years at a rate of 3.77%  $701.19 $601.02 $531.57 $554.19 please write out the answer and please no link ​

Answer 1

Answer:
FV= $12,450
Step-by-step explanation:
Giving the following information:
David invests $10,000 in a savings account that pays 3.5% simple interest.
To calculate the future value, we need to use the following formula.
FV= PV*(1+i*n)
n= 7
i= 0.035
PV= 10,000
FV= 10,000*(1+0.035*7)
FV= $12,450