SOLUTION: Mary puts $1000 in a savings account and earns 7% interest per year. if she makes no deposits or withdrawals, how much money will she have after one year?

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Question 1008683: Mary puts $1000 in a savings account and earns 7% interest per year. if she makes no deposits or withdrawals, how much money will she have after one year?
Answer by fractalier(6550) About Me  (Show Source):
You can put this solution on YOUR website!
The formula for simple interest is
I = prt so she will have earned
I = (1000)(.07)(1) = $70 interest
Her total will be $1070.