SOLUTION: John invest $400 in a savings account. How much interest will he earn in 5 years if the interest rate is 7%.

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Question 925006: John invest $400 in a savings account. How much interest will he earn in 5 years if the interest rate is 7%.
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
Depends.
Is it compound interest? And, if it is, what is the compounding period?