Question:
If you invest $10,000 at an annual rate of 7%, how much interest will you earn after one year?
A
$700
Explaination
Interest = Principal x Rate = $10,000 x 0.07 = $700
If you invest $10,000 at an annual rate of 7%, how much interest will you earn after one year?
Interest = Principal x Rate = $10,000 x 0.07 = $700