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15 May, 08:47

Aaron deposited 591.07 in a savings account that earns 3.7% simple interest. what is aarons account balance after seven years

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  1. 15 May, 10:16
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    The formula for this is A=P (1+rt), where A is the amount at the end of whatever time at whatever interest rate, P is the amount you initially deposited, r is the interest rate, and t is the time in years. Ours would look like this:

    A = 591.07 (1+{.037}{7}) and A = 591.07 (1.259) and A = $744.16
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