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19 votes
Kunio puts $2,200.00 into savings bonds that pay a simple interest rate of 2.4%. How much money will the

bonds be worth at the end of 4 years?
O $4,734.40
O $2,387.25
O $2,411.20
O $211.20

User Uma
by
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1 Answer

10 votes

Answer:

$2,411.20

Explanation:

Use the simple interest formula: A = P(1 + rt)

A = Final amount (?)

P = Starting amount (2200)

r = Rate (0.024)

t = Time in years (4)

A = 2200(1 + 0.024 · 4)

A = 2200(1.096)

A = 2411.2

User Stanislav Mamontov
by
7.1k points