Question 1181212
.
<pre>

The future value of this simple interest loan is


    FV = 7500*(1 + 0.085*2) = 8775 dollars.


Here the number of "2"  represents  2 years = 24 months.
</pre>

Solved, answered and explained.


------------------


To see many other similar &nbsp;(and different) &nbsp;solved problems on simple interest accounts, &nbsp;look into the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Simple-interest-percentage-problems.lesson>Simple interest percentage problems</A> 

in this site.


Learn the subject from there.