Question

Sharla invests $275 in a simple interest bearing account for 16 years. The annual interest rate is 8%. Using the simple

interest formula, / -Prt, how much interest will Sharla's initial investment earn over the 16 year period?
$297
$319
$352
$627

Answer 1

352

Explanation:

I = PRT where P is the principle, I is the interest rate, T is the time

I = 275 ( .08) ( 16)

I = 352