Question

Tahlia deposited $6800 into a savings account that earns 3.2% simple

interest each year, calculated annually. What will be the value of Tahlia's
account after 7 years?
OA. $15,232.00
OB. $1523.20
OC. $7017.60
OD. $8323.20
SUBMIT

Answer 1

Simple interest= Principle × Rate× Time then you divide by 100

in this case the principle is $6800, rate is 3.2% and time is 7years

So $6800×3.2×7=152320

then you divide 152320 by 100 to get $1523.20

as the interest

but now to get the value the will be in the account, you will add the principle+ interest that will be gained

$6800+ $1523.20= $8323.20