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

Answer: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 = $ 1400The rate of simple interest applied = 8 %The Time period = 7 yearsLet interest = SIAmount = A From Simple Interest method Simple interest = [tex]\frac{Principal\times Rate\times Time}{100}[/tex]Or, Simple interest = [tex]\frac{1400\times 8\times 7}{100}[/tex]Or, Simple interest = [tex]\frac{78400}{100}[/tex] = $ 784∴  Simple interest = $ 784Now, The amount she need to pay in 7 years = Amount = Principal + interestOr,  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