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$250 is invested at a bank that pays 7% simple interest. Calculate the amount of money in the account after 1 year,
3 years, 7 years, and 20 years

Respuesta :

madethisfortwitch1

Answer:

267.5

302.5

372.5

600

Step-by-step explanation:

Simple interest

PV(1+it)

1 year:

250(1+.07)

267.5

3 years:

250(1+.07*3)

302.5

7 years:

250(1+.07*7)

372.5

20 years:

250(1+.07*20)

600

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