Shirley deposited $1,400 into a bank account at a rate of 8% simple interest per year. how much interest did she pay in 7 years? what is the total that she needs to pay back

The interest did she pay in 7 years is $ 784

Total amount she needs to pay back in 7 years is $ 2184

Step-by-step explanation:

Given as :

The principal deposited in account = $ 1400

The rate of simple interest applied = 8 %

The Time period = 7 years

Let interest = SI

Amount = A

From Simple Interest method

Simple interest =

Or, Simple interest =

Or, Simple interest = = $ 784

∴  Simple interest = $ 784

Now, The amount she need to pay in 7 years = Amount = Principal + interest

Or,  Amount = $ 1400 + $ 784 = $ 2184

Hence The interest did she pay in 7 years is $ 784

Total amount she needs to pay back in 7 years is $ 2184  Answer

arrange the equations with like terms in columns.

analyze the coefficients of x or y.

add the equations and solve for the remaining variable.

substitute the value into either equation and solve.

check the solution.

step-by-step explanation:

2/3

step-by-step explanation: