SOLUTION: Jane has received $875 from her graduation party. She put the money in the bank with a 4% interest rate. How much interest will she have after 7 years

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Question 1131280: Jane has received $875 from her graduation party. She put the money in the bank with a 4% interest rate. How much interest will she have after 7 years
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Is this simple interest? If so:
+I+=+P%2Ar%2At+
+I+=+875%2A.04%2A7+
+I+=+245+
$245