Answer:
24,500
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 350%/100 = 3.5 per year,
then, solving our equation
I = 1000 × 3.5 × 7 = 24500
I = $ 24,500.00
The simple interest accumulated
on a principal of $ 1,000.00
at a rate of 350% per year
for 7 years is $ 24,500.00.
