Alfred deposited $893.78 in a savings account that earns 2.2% simple interest. What is alfreds account balance after seven years?

Hello! The formula for finding simple interest is prt. That means multiply the principal (initial amount) by the rate (percentage) by time (months or years). The principal is $893.78 and the interest rate is 2.2%. 893.78 * 2.2% (0.022) is 19.66316. Do not delete that number. The time is 7 years. Now multiply that number by 7 in order to get 137.64212 or $137.64 when rounded to the nearest whole hundredth. Now, let's add both numbers. 893.78 + 137.64 is 1,031.42. There. Alfred's balance after seven years is $1,031.42.