Question

Charlie invests $325 in an account that pays 8% simple interest for 15 years. Use the simple interest formula, I = P ∙ r ∙ t, to answer the following questions.   How much interest will Charlie’s initial investment earn over the 15-year period? How much money does Charlie have after the 15 years?

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Answer 1

Charlie invests $325 in an account that pays 8% simple interest for 15 years.

Use the simple interest formula, I = P ∙ r ∙ t, to answer the following questions.

How much interest will Charlie’s initial investment earn over the 15-year period?

✔ $390

How much money does Charlie have after the 15 years?

✔ $715

Explanation:

Answer 2

390 and 715

Explanation: