You have $7000 that you invest at 9% simple interest. What is the balance after 14 years?
A) $12,390
B) $15,820
C) $63,000
D) $882,000

Name: You have $7000 that you invest at 9% simple interest. What is the balance after 14 years? A) $12,390 B) $15,820 C) $63,000 D) $882,000
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Quizplus · Accepted Answer

Simple interest is calculated as Principal x Rate x Time. So, $7000 x 0.09 x 14 = $8,820 interest. Adding the principal, $7000 + $8,820 = $15,820.

You Have $7000 That You Invest at 9% Simple Interest