Ali plans to deposit $2,070 in a simple interest account that pays 8.43% interest annually...

90.2K

Verified Solution

Question

Finance

Ali plans to deposit $2,070 in a simple interest account that pays 8.43% interest annually for a period of 7 years. How much is the total amount Ali would have at the end of the period?
PROVIDE YOUR ANSWER UP TO 2 DECIMAL POINTS.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students