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Popular Word Problems >

Find the final amount when 9500 is invested at 7% simple interest for 5 years

Solution

solve for

t h e f ina l am o u n t w h e n 9500 i s in v es t e d a t 7% s im pl e in t eres t f or 5 ye a rs

Solution

Amount : 12825

Solution steps

Translate the problem into an equation:

A = 9500 (1 + 0.07 \cdot 5)

9500 (1 + 0.07 \cdot 5) = 12825

Amount : 12825

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