Answer: $744.16
Step-by-step explanation:
The formula to find the simple interest is given by :-
[tex]I=Prt[/tex], where P is the principal amount, r is rate of interest ( in decimal) and t is time ( in years).
Given : Aaron deposited $591.07 in a savings account that earns 3.7% simple interest.
i.e. P= $591.07 and r= 3.7%=0.037
Then, the simple interest earned in 7 years:-
[tex]I=591.07\times0.037\times7=\$153.08713\approx153.09[/tex]
Then, the Aaron's account balance after seven years = P+I
=$591.07 +$153.09= $744.16
Hence, Aaron's account balance after seven years = $744.16
