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Larry wishes to invest $1500. he can invest in an investment club which pays simple interest of 8% for 3 years. what is the amount in his account after three years? A. $1830 B. $1860 C. $5024 D. $1524
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Larry wishes to invest $1500. he can invest in an investment club which pays simple interest of 8% for 3 years. what is the amount in his account after three years?

A. $1830

B. $1860

C. $5024

D. $1524

User Bjorn Svensson
by
5.2k points

1 Answer

2 votes
First of all we have to find 8% of $1500
1500x8/100=120
Then, 120x3=360
After, 360+1500=1860
Answer is B. $1860
User Adam Waring
by
5.4k points
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