Question

Sharla invests $275 in a simple interest bearing account for 16 years. The annual interest rate is 8%. Using the simple interest formula, I = P r t, how much interest will Sharla’s initial investment earn over the 16 year period?

Answer 1

352

Explaning:

Lamonting

Answer 2

Explanation:

P = $ 275

r = 8% = 8/100

t = 16 years

`I=275*(8)/(100)*16\\\\I=(35200)/(100)\\I=352`

I =$352