A 900 dollar bond pays 7% simple interest per year for 4 years. How much interest is earned in total? Enter the amount in dollars.
Bonne réponse
252
Explication
The fixed yearly interest is 900 × 0.07 = 63, so four years earn 4 × 63 = 252 dollars. Applying a growth multiplier each year would wrongly compound a prompt that explicitly states simple interest.