Asked by chelsea

a person invested 1,200.00 at 7% interest for 6 years. how much interest did he receive?

12 years ago

Answered by Ms. Sue

Interest = principle * rate * time

I = 1,200 * 0.07 * 6

I = ?

Note that this is simple interest.

12 years ago

Answered by Reiny

at compound interest it would be

1200(1.07)^6 = .....

12 years ago

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