Calculate the amount of interest you’ll have at the end of the indicated period. You invest $7000 in an account that pays simple interest of 7% for 4 years

Answer 1

To calculate the amount of interest you'll have at the end of the indicated period, you can use the formula:

Interest = Principal * Rate * Time

Where:
Principal = $7000
Rate = 7% (convert to decimal by dividing by 100: 7/100 = 0.07)
Time = 4 years

Plugging in the values into the formula:

Interest = $7000 * 0.07 * 4
Interest = $1960

Therefore, you'll have $1960 in interest at the end of the indicated period.