Answer:
1200.5
Step-by-step explanation:
Interest Rate = (Simple Interest × 100)/(Principal × Time).
I= 7000(.0245)(7)
I=1200.5
1,200.5
Simple interest is
I = Prt,
where I is the interest earn after t years, P is the initial money , r is the rate
I = 7000*.0245*7 = 1,200.5
1,200.5 is the interest after 7 years
