Question

Apex Help!!!! At the beginning of year 1, Gracie invest $350 at annual simple interest rate of 4%. She makes no deposits to or withdrawals from the account

Answer 1

It's B A(n)= 350 + (n - 1) (0.04 · 350); $504.00

Answer 2

Option B.

Explanation:

Gracie invest $350 at the beginning of the year 1 at annual simple interest rate of 4%.

the balance at the beginning of the year 12. Interest will be calculated for 11 years.

Formula for simple interest : A = P(1 + rt)

By putting the value : A = 350(1 + 0.04 × 11)

A = 350 ( 1.44 ) = $504.00

So the best answer would be option B.