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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
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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?

User Moein Rahimi
by
7.9k points

2 Answers

1 vote

Answer:

352

Explaning:

Lamonting

User Dejell
by
7.5k points
5 votes

Answer:

Explanation:

P = $ 275

r = 8% = 8/100

t = 16 years


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

I =$352

User DCJones
by
8.1k points
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