SOLUTION: A principal of $950 is invested in an account at 7 percent per year simple interest. What is the amount of the principal after 5 years? Do not include units in your answer.
Algebra.Com
Question 651357: A principal of $950 is invested in an account at 7 percent per year simple interest. What is the amount of the principal after 5 years? Do not include units in your answer.
Answer by Aaniya(63) (Show Source): You can put this solution on YOUR website!
earnings after 5 years $382.44
ending balance $1,332.42
RELATED QUESTIONS
A principal of $850 is invested in an account at 8 percent per year simple interest. What (answered by ewatrrr)
A principal of $500 is invested in an account at 7% per year compounded annually. What is (answered by stanbon)
what is the interest on $950 invested for 4 years in an account that earns simple... (answered by addingup)
whatis the interest on $950 invested for 4 years in an account that earns simple interest (answered by rfer)
Ivan had $10,000 to invest. He invested some in an account that paid 7% simple interest... (answered by mananth)
A principal of $50,000 has been invested at an interest rate of 9 percent per year... (answered by ikleyn)
Suppose that an account earns 5.7% interest and after 2 years the balance is $2228. Find... (answered by ankor@dixie-net.com)
Find the amount of money in an account after 8 years if a principal of $2000 is... (answered by checkley71)
What is the accumulated amount A if the principal P = $11,000 is invested at the interest (answered by ewatrrr)