Math help needed: What is the accumulated amount? #1

Mathematics
Tutor: None Selected Time limit: 1 Day

Find the simple interest on a $400 investment made for 5 years at an interest rate of 7%/year. What is the accumulated amount?
A.
B.
C.
D.
Nov 9th, 2015

Thank you for the opportunity to help you with your question!

SI = (400*5*7)/100 = $140

Amount = 400 +140 = $540

The simple interest is $140, the accumulated amount is $540.

Please let me know if you need any clarification. I'm always happy to answer your questions.
Nov 9th, 2015

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