The value of investment after one year will be $1,605.
About Investment:
- It is an asset invested to increase wealth and save money from the hard earned income.
- Investment is primarily to obtain an extra source of income or gain profit from the investment over a specific period of time.
Computation of investment after one year:
Given that,
Principal[P] = $1,500.
Rate[R] = 7%.
Time[T] = 1 year.
Formula of simple interest[S.I] :
[tex]\text{ S.I.} = \dfrac{P\times R\times\ T}{100} .\\\\ \text{S.I.} = \dfrac{\$1,500\times7}{100}\\\\ \text{S.I.
}=\$105.[/tex]
Investment after one year will be :
[tex]\text {Investment}= \text{Principal} +\text{Interest}.\\\text{Investment}=\$1,500+\$105\\\text{Investment}
=\$1,605[/tex]
Hence, the worth of investment after one year will be $ 1,605.
Learn more about Simple Interest, refer:
https://brainly.com/question/2793278
